PKF Carr & Stanton, Hastings, New Zealand
16 Apr 2020
Grant Funding for Businesses:
This latest round of Government business support includes grant funding through the Regional Business Partner (RBP) programme. Sound business continuity planning and cashflow forecasting has never been so important.
We’ve all had enough surprises so it’s essential that your plans and forecasts pave a way forward for your business. PKF Carr & Stanton are a registered RBP partner and can help you access “dollar for dollar” funding to assist you address the immediate issues and to plan for the challenges that may lie ahead.
The funding is available to provide support, training and coaching for:
Businesses will need to register through the Regional Business Partner Website and meet (virtually) with to RBP advisor. To be eligible you need to meet the following criteria:
Funding is LIMITED and allocated on a first come first serve basis.
To register see website here.
More Government assistance and grant funding announced for NZ Businesses
The new measures include:
In simple terms businesses expecting to make a loss in either the 2019/20 year or the 2020/21 year would be able to estimate the loss and use it to offset profits in the past year.
Effectively carry the loss back one year and potentially refund some or all the tax already paid for the year they were in profit.
Currently, if a company has more than a 51% change in ownership it cannot keep its tax losses. Under the proposed changes, provided the “same or similar business” test is met, the business can carry forward losses. If a business needs to raise capital for recovery this may mean a change to the existing shareholder structure and the loss retention will be attractive to investors.
Grants to assist with access to a range of professional business planning and cashflow services.
Inland Revenue will have discretion to temporarily change dates, timeframes and procedural requirements.
Guidelines to ensure an orderly process to deal with commercial lease disputes caused by COVID-19.
The legislation to enact these changes will not be introduced until April 27 and will be applied retrospectively once the bill is passed.
There is a lot of detail below these summaries so please contact us if you have questions.
For further information please get in touch – email email@example.com or call 06 876-8124
We are open and here to provide any support that you may need to get through this crisis.
Stay safe and well
PKF Carr & Stanton
For more information on how our services can help your business get in touch.