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A large number of businesses have taken advantage of the Government’s wage subsidy packages over the last two years. Many businesses concluded that they could reduce employees’ wages to 80% of their normal pay across the board. But, was the minimum wage still payable if employees were not able to work due to the lockdown?

Now that covid has reared its ugly head in the community again, the already volatile and cyclical nature of the property and construction industry is further exacerbated. However, it’s an ideal time for these businesses to focus on the factors within their control rather than being burdened by the macro challenges for which there is no quick fix.

When uncertainty is the new normal, standing still isn’t an option. From cashflow management to supply chain, when major events or market changes cause disruption, it’s critical that organisations continuously strategise against their unique level of vulnerability in order to keep moving forward.

As you are most likely aware, there is a range of grants available from Government. Please get in touch with us if you need support or advice about Government support available.

Government will implement temporary changes to the Companies Act to protect jobs and income, and to reduce COVID-19’s overall disruption to the economy.

As NZ begins its recovery, businesses must now start building resilience against future potential disruption.

Uncertainty is something all businesses will grapple with today and into the future now that COVID-19 has changed the rules of the game.

We spoke to two Christchurch based clients in the wake of two lockdowns in six months since the first case of COVID-19 was reported in New Zealand.

It has been six months since the first case of COVID-19 was reported in New Zealand, and it seems that the country could continue to move in and out of various alert levels for the foreseeable future. The ongoing uncertainty will leave very few businesses unaffected by this brutal black swan. Some will suffer severe consequences, some will benefit, and for others, it will be business as usual.

As COVID-19 continues to sweep the globe, the measures taken to contain it have severely impacted financial and economic activity. These uncertain times mean that there are many accounting ramifications that charities need to consider when preparing their Annual Reports for 2019 and 2020-year ends.

In this brave new world, Not for Profits, like most Kiwi organisations, are struggling to deal with the urgencies of today while building resilience for tomorrow.

Diligence with 20/20 vision.

COVID-19 and the subsequent recession in New Zealand is adding significant complexity to deals for both buyers and sellers — including how to document the accounting implications of COVID-19 when negotiating and drafting sale and purchase agreements. If these risks aren’t addressed, you risk post-closing disputes and lost value. Following are five areas you should consider when negotiating a deal now.

Resilience is about being ready for the tough times, and COVID-19 is revealing Kiwi businesses’ weak spots – particularly the way that many are operating project by project, hoping for the best and unprepared for the worst.

Big changes to New Zealand’s tax system have been made in a small timeframe to help businesses deal with the cashflow crunch they’re experiencing during this period of unprecedented disruption.

When we look back at this time in our lives, it will be a significant milestone of change across the world. For each New Zealander, it might be the fork in the road where you decided to spend more time with your family.