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The Wellbeing Budget 2020: Rebuilding Together

The government’s Budget, presented by the Minister of Finance the Hon Grant Robertson on 14 May has addressed, in the words of the Minister, “a 1-in-100 year health and economic challenge” as it moves to rebuild the economy post-COVID-19. 

We look at the government's key spending and outline its support for business. 

 

Government’s COVID-19 wage subsidy scheme

Not a ‘gift’, there are employer obligations

Many New Zealand employers are scrambling to maintain solvency while balancing their employer obligations during the COVID-19 lockdown; thousands of businesses accepted the government’s COVID-19 12-week wage subsidy as a necessary lifeline. The subsidy was not, however, a gift. We take a closer look at employers’ obligations when accepting the wage subsidy.

 

Business briefs

COVID-19 can be ‘frustrating’

Some businesses and individuals have found themselves party to a contract they can no longer perform.

Debt recovery process

As cash flows tighten from the COVID-19 fallout, this is a good time to understand the process of debt recovery.

'Safe harbour' for directors

In May, legislation was passed amm=ending the Companies Act 1992 to help businesses facing insolvency due to COVID-19. 

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