Wage Subsidy Articles

Its failure to clarify or include in the Declaration important objectives, requirements and conditions. Its failure to adopt established beneficiary investigation and prosecution processes and, consequently, to use lax processes that rarely resulted in a prosecution. Its reliance on phone calls by staff inexperienced in business and accounting processes. Its avoidance of requesting evidence that […]

The following are from the Cabinet Minutes on decisions made on 16 March 2020. (CAB-20-MIN-0108) COVID-19 Overview of the Government’s Response Economic Package (Refer to covid19.govt.nz for Cabinet papers) 9. Noted that the estimated cost of the business and worker support package could be around $8 billion over the next five years. On 9 March

A December 2020 NZ Herald article revealed that on 2 March 2020 Business New Zealand executives had a meeting with officials and the Prime Minister and the Minister of Finance. Business New Zealand proposed a wage subsidy scheme and two weeks later Cabinet approved a wage subsidy which required businesses to have an actual or

On 16 March 2020 Cabinet decided that a 30% loss of revenue for at least one month should be required. The following quotes show how officials tried hard several times near the end of March 2020 to have the 30% loss of revenue requirement removed but they wanted a 12-week lump sum payment to be

Auditor-General’s report on management of the wage subsidy.       May 2021 4.80 Inland Revenue’s work has also involved looking at whether some applicants GST on taxable supplies (the supplies that a business uses and claims back the GST on when it purchased those supplies) had reduced for a relevant period. Analysis of this information might help