Search

The Government’s support for businesses and jobs continues to roll out at pace, with payments of the new wage subsidy already in nearly 50,000 business bank accounts.

Small businesses are getting greater certainty about access to finance with an extension to the interest-free cashflow loan scheme to the end of the year.

A law change has been introduced to make it easier for forgotten funds in institutional accounts to be returned more easily to their rightful owners.

The Government is moving to ease financial stress for around 149,000 taxpayers by changing the rules around write-offs for tax debt.

New legislation introduced to Parliament today will support growth and assist businesses on the road to economic recovery, said Revenue Minister Stuart Nash.

A billion dollar milestone is about to be passed as government cash flow support rolls out to small businesses through interest-free loans.

“This Budget is about creating jobs. We know how businesses and workers have been impacted by this global pandemic. This Government is backing businesses to regain the confidence to invest as we work together to grow the economy in the face of this global recession,” Finance Minister Grant Robertson said.

Millions of dollars in cash support has begun flowing to businesses through the largest tax refund package in modern New Zealand history.

The Government will provide interest free loans for a year to small businesses impacted by the COVID-19 economic shock to support their immediate cashflow needs and meet fixed costs.

A significant package of tax reforms will be pushed through all stages in Parliament today to throw a cash flow lifeline to small businesses.

Farmers whose herds were culled in response to the outbreak of Mycoplasma bovis will be able to minimise the tax treatment of their income in some circumstances.

Urgent legislation has been passed to support the package of economic and social measures needed to recover from the impact of the coronavirus outbreak.

A proposed law change will improve the administration of the child support scheme to ensure greater fairness for children and their families.