Simpson Grierson pays back wage subsidy

Wed, 06 May 2020

Simpson Grierson said it has paid back the $2.3 million it received from the government wage subsidy, saying its revenue forecasts are now not so bad.The 43-partner firm is already reducing partner drawings, a measure also being used by some of New Zealand’s top accounting firms to manage cashflow during the covid-19 crisis.“We applied for the subsidy at the beginning of the lockdown in late March, based on a forecast decline in revenue due to the impacts of covid-19 and in order to help protect the jobs and incomes of our people,&r...

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