With the return of Covid alert Level 3 in Auckland and Level 2 elsewhere in the country this week, some businesses may be eligible for more government support. In particular, the Resurgence Support Payment for organisations that have experienced a 30% drop in revenue or a 30% decline in capital-raising ability over a 7-day period due to the raised Covid alert levels. Further details about eligibility criteria and how to calculate your drop in revenue can be found on the IRD link here. If you are unsure about applying or calculating your drop in revenue it is best you contact us directly to discuss your individual circumstances.

The Resurgence Support Payment does not affect your eligibility for any other government support you may be receiving. Don't forget there are a number of support schemes that have been outlined in the past that you may also be eligible for such as Small Business Cashflow Loan, tax relief and income assistance. For further details see here.

END OF THE 2020 FINANCIAL YEAR
With the 31st of March fast approaching, the end of the 2020 financial year is near. If you have not supplied us with your financial information to complete your tax requirements for the 2020 financial year yet, please can you contact us immediately?

PREPARING FOR THE 2021 FINANCIAL YEAR
Before the end of the March, you should also consider completing any stock-takes (if applicable), follow up any unpaid debts and write-off any old debts that may be un-collectable. Please also retain any loan summaries or interest certificates that will be of use to help complete your 2021 accounts.

I attach a link to the latest Accelerate newsletter. Here you will find 6 things you should know before filing your end of year tax (2021) – Post Covid-19. It has some great points that you need to consider.           

If you have any questions, comments, or suggestions please don't hesitate to contact us at any time.

With best wishes,

Luke Canton, Helen Canton, Veronica Griffin, Sarah Harrild & Philippa Muller
Flashpoint Accounting Ltd
www.flashpointaccounting.co.nz

 

Key Dates

31st March - Deadline for filing Accounts for the 2020 Financial Year.

7th April - Due date for the 2019 Terminal tax bill. This is the tax to pay on last years income.            

If you are unsure if you have a tax payment to make please get in touch.

7th May - Due date for the Provisional tax.

For a full list of tax related important dates please see the resources page on our website More....

Accelerate Newsletter 

Check out 6 things you should know before filing your EOY (2021) tax post Covid-19.

Earn over $180,000 a year? If you're one of the 75,000 Kiwis impacted by the new 39% tax rate, review your business and investment structure with us before 1 April!


                       



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