Going concern changes
Will your business survive? How to make this judgement and let readers of your financial statements know...
Amendments to the Shop Trading Act 1990 came into force in 2016, and as from 1 January 2018 individual councils throughout New Zealand can decide if they will allow business trading in their area.
Previous restrictions limited Easter Sunday Trading for shops which sold food and drink, petrol, gardening equipment, services (hairdressers, etc.) and souvenirs. These amendments remove these restrictions and will allow businesses to open on Easter Sunday if they wish to do so, depending on the policy of the relevant council.
It is important that the business owner checks the relevant council policy on Easter Sunday trading in their area to ensure they are compliant, and if a business owner has more than one shop throughout different areas of the country, they will need to check the Easter Sunday trading policy with the relevant local council in each of those areas to determine whether they are authorised to trade.
Where the business owner opens for trade without authorisation from the relevant council they risk being fined.
There are also important points for Employers to follow with regard to Employees if they are wishing to open on Easter Sunday:
An important point for Payroll purposes is that Easter Sunday is not a Public Holiday. Therefore the employee is not entitled to Public Holiday payments or alternative days off if they work on that day.