Weekly Digest – 3 March 2022
Reopening of Borders
From 11:59 pm 4 March 2022, the following fully vaccinated people can enter New Zealand from anywhere in the world and do not need to self-isolate or enter MIQ:
- New Zealand citizens and residents
- Other eligible travellers under current border settings.
Third COVID Vaccine Novavax Approved
Novavax will soon be available to New Zealanders 18 years old and above. The first doses are expected to arrive in the country this month.
UK-NZ Free Trade Deal
The UK and New Zealand have signed a free trade deal. This would boost bilateral trade by 60% by eliminating tariffs, cutting red tape, and enabling freer movement of professional workers.
COVID Support Payment
A targeted COVID Support Payment (CSP) will be made available for businesses struggling with revenue during the Omicron outbreak. Each COVID Support Payment will be $4,000 per business plus $400 per full-time employee, capped at 50 FTEs or $24,000.
Digital Invoicing Initiative Launched
Starting 31 March 2022, central government agencies must be able to receive invoices in an electronic format. This marks the first step in making Business to Government (B2G) e-Invoicing mandatory in New Zealand. The government estimates savings of $4.4 billion over 10 years using the electronic system.
Promoting NZ Technology to the World
The government is putting $1 million into a marketing campaign, NZ Tech Story, to help technology businesses promote the country’s potential to overseas customers, workers, and investors. See seetomorrowfirst.nz to find out more.
Small Business Cashflow Loan Scheme
If you employ 50 or fewer staff, you may be able to apply for the Small Business Cashflow Loan Scheme. This is a one-off 5 year loan where you can borrow a maximum of $10,000 plus $1,800 per full-time-equivalent employee within your business.
Applications are open until 31 December 2023 through myIR. If your business does not have a myIR account, you will need to create one to apply. Loans will be interest-free if they are paid back within 2 years. The interest rate is 3% for a maximum term of 5 years.
COVID-19 Short-Term Absence Payment
The Short-Term Absence Payment is available for businesses, including self-employed people, to help pay employees who cannot work from home while they wait at home for a COVID-19 test result. This is a one-off payment of $359 for each eligible worker. You can find the details here.
Kiwi Business Boost Tool
The Government has funded specialist consultancy support services to provide advice to businesses who need it. You can use the Kiwi Business Boost Tool to find out what services are available in your region.
The Treasury website’s COVID-19 Economic Response Measures can also provide more information on the range of support available to businesses.
Get in touch
Contact us if you have any questions or want to discuss the next steps for your business.