Type of Intervention: Financial and Economic, Regulation
Sectors Involved: Finance/Economy, Private Sector and Businesses
Intervention Categories: Finance policy and financial aid; Stimulus packages and financial support
Level of Jurisdiction: National
Lead People/Agency: Minister of Finance, Minister for Small Business
Overview: Tax relief and other support for Small and Medium Enterprises. The new measures include:
$3.1 billion tax loss carry-back scheme (estimated cost over the next two years)
$60 million estimated annual savings to business each year from changes to the tax loss continuity rules
$25 million in the next 12 months for further business consultancy support
Greater flexibility for affected businesses affected to meet their tax obligations
Measures to support commercial tenants and landlords
Full details here: https://www.ird.govt.nz/Updates/News-Folder/covid19-business-changes
Other links: 1
Type of Justification: Public Opinion (e.g. consultations, opinion polling)