June Update
In this month's business world update:
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Changes To The Wage Subsidy Extension
Eligibility for the 8 week Wage Subsidy Extension is very different to that of the original 12 week Wage Subsidy, and the timing of your application is important. If you think you are eligible please contact us first so we can ensure your business meets the requirements.
The criteria has changed from a 50% Revenue drop to a 40% Revenue drop.
This means a Revenue loss of at least 40% for 30 days prior to applying compared to the similar period last year.
The wage subsidy covers 8 weeks only. If your business is eligible, you can apply once your current 12-week subsidy has finished. Applications are open until 1 September
This is the final general Wage Subsidy from the Government.
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Changes To The Small Business Loan Scheme
The dates in which you can apply for the Small Business Cashflow Loan have been extended a further 6 weeks.
Loan applications are now open until the 24 July 2020.
To apply log into your IRD using the button below:
- Click on your Business IRD number
- Under "I want to..." click "Apply For The Small Business Loan"
- Follow the instructions
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E-Invoicing is here
What is e-invoicing?
Electronic invoicing. An invoice is sent automatically through a secure network to a buyer’s accounting system instead of sending a PDF or online invoice via email – this way eliminating manual entry of the invoice into your accounting system.
Using e-invoicing has the following advantages:
- cost savings - invoicing is automated, reducing the manual invoice entry and lost or overlooked invoices
- reduced payment delays - invoices are delivered almost instantly to be approved and paid
- invoices are exchanged through a secure network using trusted service providers
Get in touch with us if you would like help setting this up.
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"In the business world, the rearview mirror is always clearer than the windshield."
A quote from Warren Buffet.
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