After the Covid-19 announcement today, all our staff will be working from home. We are well set up to do this, and our business will operate as per usual, with the following changes:
Support for our clients
We know this is a time of uncertainty for business owners, sole traders, the self-employed, and employees. To that end, on Saturday the Government announced measures to help businesses get through these tough times. And today (23 March) further support was announced.
As part of the economic package to help businesses survive the Covid-19 pandemic, the Government has outlined various ways they will offer support.
Wage subsidy
Rent freeze
Rent freezes are in place, and 'no cause' terminations have been extended to commercial tenants, to assist business owners who are struggling with rent payments.
Business finance guarantee
Banks agreed in principle to a 'business finance guarantee' scheme, under which the Government will underwrite business loans. That means you can write to your banker and ask for an overdraft underpinned by a government guarantee. We suggest everyone that needs it should do this immediately.
Quantitative Easing
With the government agreeing to buy $30 billion of bonds, we have NZ’s first ever quantitative easing. This is designed to keep interest rates low and stimulate the economy. This, coupled with the strong government initiatives looks like a very positive response from the government and should allay the fears of many. (For more on this, have a look at my blog about banking and debt.)
Summary
We know these are challenging times, and we will do our best at GRA to support you. If you have any concerns at all, please get in touch in any of the following ways:Stay safe.
Although I have not read the book cover to cover as of yet, Matt’s new book is absolute ‘top shelf’ material which without hesitation I would arguably put ahead of a few other well known authors that I have held in high regard for many years due to the fact of not finding anyone to surpass them – now I have. The book shows thorough research on a range of topics with clear concise kiwi examples. The books title does not do it justice – heres hoping a ‘property 201’ book is in the pipeline… - Bernard - October 2015
Gilligan Rowe and Associates is a chartered accounting firm specialising in property, asset planning, legal structures, taxation and compliance.
We help new, small and medium property investors become long-term successful investors through our education programmes and property portfolio planning advice. With our deep knowledge and experience, we have assisted hundreds of clients build wealth through property investment.
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