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Unconditional Gifts and GST

Unconditional Gifts and GST

Publication IS 20/09 GST - unconditional gifts (ird.govt.nz) was published on 23 December. It clarifies that a payment made to a GST registered non-profit body as an unconditional gift is not consideration for a supply and is not subject to GST. Also, unconditional gifts are not included for the purposes of determining whether the entity has reached the threshold requiring it to register for GST. Non-profit bodies therefore need to know when they are receiving unconditional gifts. This interpretation statement also looks at what voluntarily means, issues
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Resurgence Support Payment

Resurgence Support Payment

A Resurgence Support Payment may be activated if the alert level increases from Level 1 for a week or more.  Businesses and organisations will be eligible if they experience a 30% drop in revenue over a 7 day period after an alert level increase and meet other eligibility criteria.  This drop is compared to a typical 7 day period in the 6 weeks before the increase in alert level.  The decline in revenue must be a result of the specific alert level change, not just COVID-19 in general.  You
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COVID-19 Short-Term Absence Payment

COVID-19 Short-Term Absence Payment

The COVID-19 Short-Term Absence Payment is available for businesses, including self-employed people, to help pay their workers who cannot work from home while they wait for a COVID-19 test result. The Short-Term Absence Payment is available from 9 February 2021. It’s to help businesses keep paying eligible workers who: *  cannot work from home, and *  need to miss work to stay home while waiting for a COVID-19 test result (in line with public health guidance). There’s a one-off payment of
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