Business Update – 8 June 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Income tax returns are due 7 July

The government has issued a summary of important tax dates and resources. It can be found here.

Trend sees Auckland homeowners swipe listings from market

Since the average house price dropped 2.5% last month, homeowners have been pulling their homes from the market rather than considering lower offers.

Inland Revenue’s Naomi Ferguson honoured for years-long work in tax reform

Ferguson, who arrived from the UK in 2003 on secondment and stayed, has received a Companion of the Queen’s Service Order for public service in the Queen’s Birthday and Platinum Jubilee Honours list.

Auckland businesses under pressure

Business owners say wage pressures, skill shortages and increasing overheads are making it impossible to find workers.

Vacancy rates in office buildings fluctuating

It is suspected that employers are adapting to a hybrid work model and are now placing emphasis on premium office spaces so they can provide extra amenities to attract staff.

Last emergency Covid-19 bank restrictions lifted

The Reserve Bank has allowed retail banks to resume normal dividend payments to shareholders, which have been paused since March of 2020 in an effort to ensure they would have sufficient money to lend to customers.

Businesses urged to shore up whistleblowing policies ahead of law change

The new Protected Disclosures Act will come into effect next month. It is meant to safeguard employees that speak out against employer wrongdoing.

Demand for new mortgages down 27%

Low consumer confidence, paired with rising interest rates and inflationary pressures, lead to a major drop in demand for credit.

Personalised face mask exemption pass is now in effect

The new card, issued and managed by the Ministry of Health, is meant to help those who cannot wear a face mask avoid discrimination. It also aims to minimise escalating unsafe behaviour around face mask compliance in retail settings such as supermarkets.

Government funding for gender affirming surgery welcomed

The government has allocated an extra $3 million over 4 years for gender affirming surgery in response to a 50-year waiting list and growing demand.

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.