Don’t be a slave to your debt
OPINION: Clicking through some news of late, I have noted the odd headline referring to credit card debt.
The Government has announced a massive $12.1 billion scheme to protect businesses and workers amid the Covid-19 outbreak.
Under the scheme, businesses hit worst by coronavirus may be given a wage subsidy of up to $585.80 a week for each full-time worker and up to $350 per week for each part-time worker.
Making up almost half of the scheme, the $5.1 billion wage subsidy takes a central focus in the Government’s coronavirus response.
Businesses wanting to take part in the wage subsidy will have to prove they are losing a large amount of income due to the pandemic.
The wage subsidy, which kicks in today, will enable businesses to receive up to $150,000 over the next 12 weeks.
$126 million has also been allocated for Covid-19 sick leave and self-isolation.
The funding will enable employees to be paid for the entire time they are sick with Covid-19.
Businesses will also benefit from a $2.8 billion package of tax changes.
A higher provisional tax threshold will kick in, interest will be waived on some late tax payments, depreciation deductions will be allowed for commercial and industrial buildings, and businesses will be able to take more deductions for low value assets.
A $2.8 billion package will also go towards beneficiaries and superannuitants.
Focal to the package, is an increase in weekly benefit payments.
Beneficiaries will get an extra $25 in their pocket each week and the Winter Energy Payment will be doubled for both beneficiaries and superannuitants to $900 for singles and $1400 for couples.
The health and aviation sectors are also getting a boost, with $500 million and $600 million respectively.
Prime Minister Christopher Luxon will be fronting farmers at three large public meetings organised by Federated Farmers over the coming weeks.
Federated Farmers and a major Australian-owned bank are at loggerheads over emissions reduction targets set for New Zealand farmer clients.
More locally grown tomatoes are coming to stores this month and you can thank New Zealand greenhouses for that.
Changing skill demands and new job opportunities in the primary sector have prompted Massey University to create a new degree course and add a significant major into another in 2025.
It was bringing in a new Canterbury A&P Association (CAPA) show board, more in tune with the CAPA general committee, that has ensured that Christchurch will have a show this year, says CAPA general committee president Bryce Murray.
OPINION: Hats off to our pipfruit sector.
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