CLIENT NEWSLETTER – RESPONSE TO COVID-19 ALERT LEVEL 4 ANNOUNCEMENT

 

With yesterday's announcement by our government NZ is moving to Alert Level 4 we wanted to let you a few things;

 

Our physical office in Takapuna will now be closed until further notice

Our entire team is working from home.

Please continue to communicate with the accountant who you normally deal with.

All of our team emails can be found on our website click here……

 

Directors contact details:

Brent Whatnall           0272 710326     brent@mcisaacs.co.nz

Chris Lindsay              021 829400      chris@mcisaacs.co.nz

Josie Taylor                 021 477520      josie@mcisaacs.co.nz

Raanji Ragupathy    0272 211 063       raanjika@mcisaacs.co.nz

 

Please try not to post or courier records to us

If you need to send us any records, please scan or take a photo of these rather than courier or posting any records. At this stage we do no know how reliable the courier or postal system will be during Alert Level 4.  If you require assistance to attach documents or photos to emails, please drop one of our team members and email and they will contact you.

If you need to send us back your signed 2019 Financial Statements and Income Tax Returns, we propose you scan these back to us in the first instance.  

If you are not able to scan your signed 2019 Financial Statements and Income Tax Returns, to us, please send us an email instructing us to file your 2019 Income Tax returns to the IRD and list the entity name for the returns to be filed.  

Economic assistance update

Further to our last newsletter (see here) outlining the government's COVID-19 Economic Package the government has announced further support for the economy, workers and businesses which can be found Beehive.govt.nz.  We suggest re looking at the changes, particularly the wage subside scheme as you may now be eligible. 

The Reserve Bank moves to support the economy by purchasing up to $30 billion of NZ Government bonds over the next 12 months. The Reserve Bank buys Government bonds owned by investors, including the retail banks. This increased demand for Government bonds reduces their 'yield' interest rates.
The investors – including banks – also receive a cash injection as they receive the proceeds from selling their Government bonds to the Reserve Bank.
A lot of interest rates in the economy are calculated off the yield interest rates for Government bonds, meaning any move to reduce these rates will also flow through to those charged by banks for business lending and mortgages.

 

Please stay safe everyone.

All the best from the team at McIsaacs.

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Please note: The above E-newsletter notes and the related articles on our website are of a general nature and therefore we urge clients who may be affected by these changes to contact us to discuss your specific circumstances before making any changes or drawing any conclusions.

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Get in contact

  • Takapuna Office

    Ground Floor, Takapuna Finance Centre
    159 Hurstmere Road
    P O Box 331 626
    Takapuna, Auckland

    Phone +64 9 414 4050
    Fax +64 9 447 1645
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