Loans were issued to more than 129,000 companies for a total of $ 2.4 billion with the average amount approved for $ 17,000.
Around 10,000 loans were already in breach, due to just over $ 161 million, the tax department said.
The SBC scheme intended to help small and medium-sized companies affected by the COVID-19 pandemic.
As of June, internal income will breach a loan if not paid, and default interest of 10.88% plus a standard interest rate of 3% will be charged.
Robyn Walker, Deloitte’s fiscal partner, said the amount owed to SBC loans was worrisome.
“It is definitely a problem because everything only enters the cube of money that the government would like to obtain, which is not going.”
Walker said that people who owed money should probably recognize interior income were not going to disappear.
“It would be appropriate to start looking at it and have a process to control it.”
She said the interest in non -compliance with 10.88% would cause the debtors’ loan balance to firing quickly.
Walker said that the salary subsidy was the “first line of defense” of the country when the pandemic arrived.
That subsidy was modeled in part in the Earthquake support subsidy and the loss of employment loss of the earthquake, introduced after the Christchurch earthquake in February 2011.
The SBC scheme was implemented when legislators recognized the lack of private sector funds.
“He raised a need at that time. He has a quite a pot in pot, ”said Walker.
When it occurs, Loans were designed to be free of interest if they are returned within a year With 3% per year after that.
Inland Revenue said that many SBC borrowers were unique merchants or small businesses with less than six full -time employees.
“The largest number of loans was obtained by companies in Auckland, where there were longer closure periods.”
In March 2022, a recharge loan for existing SBC borrowers was introduced.
That recharge loan was $ 10,000, plus any amount for which the borrowers were eligible but had not taken their first loan.
As of December 31 of last year, more than 50,000 people had paid their loan in their entirety, with a total loan balance of $ 953 million still owed.
Inland Revenue’s website said for people who fail to comply: “You must pay all your loan immediately if you fail and demand full payment.”
He said that customers behind the payments would be notified and remember reimbursement obligations.
In extreme cases, as if someone fraudulently requested for money, prosecutions would be considered.