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Govt Press Release: Cash Flow Loan Scheme

An update regarding the Cashflow Loan Scheme.

This is the snippet from the Government press release:

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

The Minister of Finance and Minister of Revenue say the Small Business Cashflow Loan Scheme will provide assistance of up to $100,000 to firms employing 50 or fewer full-time equivalent employees.

It has become clear that the support that is available to our small and medium businesses

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Landlords: new rules for residential property tax deductions

Landlords:  new rules for residential property tax deductions

From the 2019-20 income year onward, new rules apply to deductions claimed for residential properties. Residential property deductions will now be ring-fenced, meaning they can only be used to offset income from residential property. You cannot use rental losses to offset other income like salary and wages. Also, residential property deductions you claim for the year cannot exceed the amount of income you earn from the property for the year.  Any excess deductions must be carried forward from year to year until they can be used. If you have more than one
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Modernising the Charities Act

Modernising the Charities Act The Department of Internal Affairs (DIA) has launched a public consultation on modernising the Charities Act 2005.  It is reported that the purpose of modernising the Act is about ensuring it is fit for purpose and suits the needs of New Zealand’s diverse charities and that will contribute to a sustainable charities sector where:
  • New Zealanders understand, trust, and have confidence in charities
  • Charities have the capability and capacity to effectively deliver on their charitable purposes, and New Zealanders benefit as a result; and
  • The expertise and independent voice of
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