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Insight, news and updates from Alliott NZ Chartered Accountants, Auckland New Zealand. The views expressed here are the views of the author and should be discussed in further detail should an article be relevant to your individual circumstances.

While every effort has been made to provide valuable, useful information in this publication, this firm and any related suppliers or associated companies accept no responsibility or any form of liability from reliance upon or use of its contents.  Any suggestions should be considered carefully within your own particular circumstances, as they are intended as general information only.

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COVID-19 support for businesses

Written by Vanessa Williams on August 19th, 2021.      0 comments

Further Information on Support for business following alert level change

COVID-19 support for businesses

7K0A0597-403Following the rise in alert levels announced on 17 August 2021 the following support is available for businesses:

  • The Wage Subsidy Scheme (WSS). This payment will be available nationally to help eligible businesses continue paying staff and protecting jobs. To reflect increased wage costs, the payments have been increased to $600 for full-time employees and to $359 for part-time employees. This will be open to applications from 9 am on Friday 20 August 2021, with applications initially open for two weeks. The declaration form on the website at Work and Income outlines the eligibility criteria. For more information on the WSS, see https://www.workandincome.govt.nz/covid-19/index.html  
  • The Resurgence Support Payment (RSP). 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 applications from 8am on Tuesday 24 August 2021 and will be available until one month after a nationwide return to Alert Level 1. For more information on the RSP, see https://www.ird.govt.nz/covid-19/business-and-organisations/resurgence-support-payment 
  • 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, see https://www.workandincome.govt.nz/covid-19/leave-support- scheme/index.html  
  • 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, see https://www.workandincome.govt.nz/covid-19/short-term-absence-payment  
  • 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, see https://www.ird.govt.nz/covid-19/business-and-organisations/sbcs   

If COVID-19 has impacted your business’ ability to pay tax on time, a request can be submitted for the remission of penalties and interest through myIR. For more information on financial relief, please contact the team at Alliott NZ first.

Our office in Auckland is now closed for 7 days from Wednesday 18 August 2021 however we will keep you notified by email, website and across our social sites of any changes.

 

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