From Devastation to Recovery: How to Access Financial Support for Your Business in the Aftermath of Cyclone Gabrielle?

As we bear witness to the aftermath of Cyclone Gabrielle, our hearts are heavy with the knowledge of the immense pain and suffering that many of our fellow citizens are enduring, and we want to extend our deepest empathy and support to each and everyone who has been affected by this historic weather event, and to all of you who are tirelessly working in support of those in need, our Whānau.

Despite the improving weather conditions, many are still struggling with the lingering effects of the cyclone.  From dealing with flooding, missing road access, power outages and the unavailability of communications with the outside world, to sales downturns as well as losses of unimaginable proportions, we understand the immense challenges that come with such situations, and we are dedicated to doing everything we can to help our Whānau recover and rebuild stronger than ever.

After all, we are standing in solidarity with our community, committed to providing you with guidance and assistance. That is why, in today’s article, we will explore a range of options that are available to support your business in recovering from the devastating effects of the recent extreme climatic phenomenon, so you can focus on getting back on track and moving forward with confidence.

Tailored Support Packages to Ease Financial Burdens

Your trusted bank and the Government have come to the rescue with a range of carefully crafted support packages, aimed at easing the financial burden caused by these trying circumstances.

Here are a few of the available packages for businesses throughout New Zealand, and –

needless to say – we are of course happy to assist you, should you require guidance in applying for these funds.

Westpac offers a $2,500 cash grant for flood-impacted businesses

For small businesses impacted by the recent flooding events, Westpac has stepped forward with a helping hand. Eligible Westpac small business customers can apply for a $2,500 cash grant from the Small Business Flood Relief Fund, a relief that also extends to businesses affected by the earlier Auckland floods. If you are eligible, we encourage you to take advantage of this opportunity and visit the Westpac website to apply as soon as possible.

Get a $2,000 cash support from ASB

For those who have been impacted by Cyclone Gabrielle or the recent flooding, ASB is here to help personal and business customers with a one-off $2,000 cash payment for support. To apply, you must comply with the eligibility criteria for private or business customers, which you can view here.

Support packages provided by other banks

Looking beyond ASB and Westpac, other major banks like ANZ, BNZ, and Kiwibank are also extending their support to businesses by providing loan restructuring with zero fees, temporary overdrafts, payment deferrals, interest-only periods, and more.

At times like these, we understand that businesses need all the support they can get, and as a business owner, you don’t have to face this alone, which is why we highly recommend taking action and reaching out to your bank today to find out what your options are.

Inland Revenue offers tax relief for emergency events

Recognizing that natural disasters and other emergency events can disrupt our lives and make it challenging to manage tax liabilities, Inland Revenue offers a range of tax relief options for those affected by such events. From payment instalments to waiving payment penalties and interest, there are several ways to get the support you need to navigate your tax obligations during tough times. If you are facing financial hardship, Inland Revenue may even have the discretion to write off some or all your tax debt, depending on your situation.

We encourage you to take advantage of these support options by reaching out to Inland Revenue and exploring the options available to you. Don’t let unforeseen events hinder your tax compliance; instead, take proactive steps and stay on top of your financial responsibilities, start here .

Civil Defence payments

If you are struggling to get back on your feet after the devastating impact of Cyclone Gabrielle, the Civil Defence payment may offer some much-needed relief. This payment is designed to support those who have been displaced or cannot work due to the cyclone’s impact, which is an incredibly stressful and challenging situation we do not wish on anyone.

While the eligibility criteria are limited, it is worth checking to see if you qualify for assistance.

Overall, it is heartening to see how our beloved Aotearoa is standing together to support those impacted by the recent events, and the Civil Defence payment is just one of many examples of the measures taken.

Get back on your feet with our expert support

The solidarity and assistance offered during such difficult times not only provide crucial relief but also highlight the resilience of our country. This becomes increasingly important as we face more frequent and intense extreme weather events due to the effects of climate change, emphasizing the need for individuals and businesses to be prepared for the unexpected.

At Accountants Plus, we understand the difficulties that unforeseen events can present to your financial well-being. That is why we are here to support you. From creating a disaster recovery plan and obtaining funding and assistance following climatic occurrences to developing a personalized financial strategy to help you get back on track to success; we recognize that every situation is different, and we will work with you to find the best solutions for your business, tailored to your unique circumstances.

With our team of experienced professionals on your side, you can prepare for the times ahead and mitigate the risks associated with climate change, giving you peace of mind and confidence for your financial future while helping you make the best decisions for that future.

Our aim has always been and will always be to provide our clients with the knowledge and support they need to make informed decisions, maximize their profits, and achieve their long-term business goals. We are committed to providing top-notch business services, which is precisely why we would be delighted to assist you as our valued client.

So, if you encounter challenges in completing the intricate process of applying for financial aid or need assistance with your cash flow planning, taxation needs or employment support, please don’t hesitate to reach out to us  – sometimes a small amount of assistance can go a long way.

Take care, stay alert, and remember – kei roto katoa tatou i tenei (we are all in this together).

Ngā mihi nui,
your team at Accountants Plus,
Chartered Accountants – Business Advisors and Taxation Specialists