COVID-19 Small Business Cashflow Scheme (SBCS)
May 26, 2022
The Inland Revenue Small Business Cashflow Scheme (SBCS) was introduced to support small to medium businesses and organisations struggling with a loss of actual revenue due to COVID-19.
SBCS has now been open for 2 years which means that, for some clients, the 24-month interest free period is now up. One month prior to your due date, IRD will release a payment schedule with dates and amounts when regular payments are required to be made.
Loans will be subject to an annual interest rate of 3% from the first day of the third year of the loan. If you repay your loan in full within the first 2 years, you will not be charged any interest. If you default on your loan, it may become immediately due and payable and default interest may be added.
If you haven’t received your repayment schedule, or you don’t know when your repayment date is please contact your client manager for more information.
The Reserve Bank of New Zealand recently announced a drop in the official cash rate (OCR). The final impact of this drop can be both positive and negative for your small business.
Scams are everywhere – from emails and phone calls to social media and online ads, scammers are constantly finding new ways to deceive and exploit. In this post, we’ll explore the different types of scams, how to spot a scam, and what to do if you’ve been caught up in it all.
MPI has officially extended the drought declaration in the Waikato, and several other North Island regions.
Managing your finances is fundamental to keeping your business on track, but are you doing everything possible to optimise your financial management?
Selling a business is a significant milestone, and proper preparation is key to ensuring a successful and profitable transition.
Since the Health and Safety at Work Act 2015 came into place, specialised advisors and consultants have been popping up all over New Zealand. But how do you know who’s genuine?
Calculating the minimum wage is easy when your employees have regular hours. It’s a little more complicated when your business is seasonal.
Whether for your home loan or business expenses, negotiating better terms with your bank can help you manage your financial obligations more effectively.
This January we are going back to basics and taking a look at some of the cornerstones of accounting. Next up: Cashflow.
This January we are going back to basics and taking a look at some of the cornerstones of accounting. First up – Bookkeeping.
