With the whole country now at Alert Level 4, we wanted to highlight the financial support that you can access to help support yourself and your business.
The Government has announced that they will be reinstating the subsidies from Friday the 20th of August, more information can be found via – Govt triggers business support following COVID community case | Beehive.govt.nz
Here is a breakdown on what is available:
The Wages Subsidy Scheme:
The Wages Subsidy will be available if there’s a regional or national move to Alert Levels 3 and 4, for a period of seven days or more, and your business expects a loss of 40 per cent of revenue as a result of these level changes.
Eligible businesses can apply for:
- $600 per full-time equivalent employee and $359 per week per part-time employee.
Details of dates for revenue test are still not available yet.
Applications open at 9am on Friday 20th August 2021, and will be open for two weeks. – COVID-19 Wage Subsidy August 2021 announced – Work and Income
The COVID-19 resurgence support payment (RSP):
The Resurgence Support Payment is available if businesses incur a loss of 30 per cent of revenue as a result of the Alert Level increase. When the RSP is activated, eligible businesses and organisations can apply to receive the lesser of:
- $1,500 plus $400 per full-time equivalent employee (FTE), up to a maximum of 50 FTEs
- Four times (4x) the actual revenue decline experienced by the applicant.
Need to wait until at least Tuesday 24th August 2021 to see if businesses are eligible for this support payment as will need to see how revenue has been impacted by the alert level increase over a 7 day period.
Applications open at 8am on Tuesday 24 August 2021.- COVID-19 Resurgence Support Payment (RSP) (ird.govt.nz)
The Leave Support Scheme (LSS):
This payment 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. The rates increase to either $600 per week for full-time workers or $359 per week for part-time workers from Tuesday 24 August 2021.
For more information on the LSS – COVID-19 Leave Support Scheme – Work and Income
The Short-Term Absence Payment (STAP):
This payment provides a one-off (once per 30 days) payment of $350 for workers who must miss work due to a COVID-19 test and cannot work from home. The rate increases to $359 from Tuesday 24 August 2021.
For more information on STAP – COVID-19 Short-Term Absence Payment – Work and Income
The Small Business Cashflow Scheme (SBCS):
This scheme supports small to medium businesses and organisations struggling with a loss of actual revenue due to COVID-19. Applications are open until 31 December 2023.
For more information on SBCS – COVID-19 Small Business Cashflow Scheme (SBCS) (ird.govt.nz)
If you require help with any of these applications please let us know, we are here to help.
The team at PKF Hamilton