We’re letting you know more details about the support available for businesses following the rise in alert levels announced by the Prime Minister on 17 August 2021.
These measures include:
The Wage Subsidy Scheme (WSS). This payment will be available nationally to help eligible businesses continue paying staff and protecting jobs. You will need to experience at least a 40% drop in revenue over a 7-day period, due to a COVID-19 alert level increase of level 2 or higher. To reflect increased wage costs, the payments have been increased to $600 for full-time employees and to $359 for part-time employees. Applications will be open from 9am Friday 20 August 2021, via Work and Income with applications initially open for two weeks. For more information on the WSS, visit the Work and Income website here.
The Resurgence Support Payment (RSP). This payment will be available nationally to help eligible businesses to pay fixed costs such as rent. This payment will be available to any business or organisation in New Zealand that experiences at least a 30% drop in revenue or a 30% decline in capital-raising ability over a 7-day period, due to a COVID-19 alert level increase of level 2 or higher. This will be open to applicants from 8 am on Tuesday 24 August 2021 and will be available until one month after a nationwide return to Alert Level 1. Businesses can apply for RSP and WSS or similar wage-related subsidies. For more information on the RSP, click here.
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, click here.
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 the STAP, click here.
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 the SBCS, click here.
IRD Payment Arrangements With July PAYE due Friday 20 August and GST and provisional tax due date coming up on 28 August 2021, you may be worried about cash flow and would like to organise a payment arrangement with IRD. Please contact us if you need any help and we can discuss the options. You may be able to get remission of penalties and interest in the future once core debt is paid.
Please contact us if you have any questions.
