Through the largest refund package in the history of modern New Zealand, millions of cash has begun flowing to businesses. The loss carry-back scheme witnessed hundreds of applications repaid by IRD in the first week.
- These tax refunds are like a cash lifeline for businesses with non-wage fixed costs, like interest, rent and insurance;
- In the first week, more than $62 million in tax refunds have been paid to 676 businesses who registered under the loss carry-back provisions;
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