NEWS
Wage Subsidy and Resurgence Support
WAGE SUBSIDY
The Covid-19 Wage Subsidy Scheme will be available for businesses nationally when we are at Alert Level 3 or 4 for a period of 7 days or more.
If employers expect a loss of 40% of revenue as a result of the Alert Level increase, they will be eligible for $600 per week per full-time equivalent employee and $359 per week per part-time employee. The wage subsidy will be paid as a two-week lump sum, and applications open on Friday, 20th of August.
Click here for further information about the Wage Subsidy.
RESURGENCE SUPPORT
The Minister of Finance has announced a second payment of the Resurgence Support Payment (RSP) for the alert level increase that started on 17 August, which is open to all New Zealand businesses and self-employed people who meet the eligibility criteria. Businesses will need to show a 30% or more drop in revenue in a 7-day period from 8 September until immediately before all of NZ returns to Alert Level 1 compared to a typical 7-day period in the 6 weeks before 17 August. Businesses are able to receive up to $1,500 plus $400 per full-time equivalent employee, up to a maximum of 50 full-time employees.
The applications will open for the second payment at 8am Friday 17th September on Inland Revenues website.
Businesses and organisations will be able to apply for the second payment even if they have received the first payment. Applications for both payments will remain open until 1 month after the whole of Aotearoa New Zealand returns to Alert Level 1.
The Leave Support Scheme provides a two-week lump sum payment of either $585.80 per week for full-time workers, or $350 per week for part-time workers who must self-isolate and cannot work from home.
Click here for further information about the Resurgence Support.
Please contact your REAL Client Manager directly by phone or email if you would like help accessing any of these for your business.
Disclaimer
This information is intended to provide general advice only. We recommend you discuss your specific situation with your Accountant.
