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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.

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COVID-19 Wage Subsidy March 2021

Written by Vanessa Williams on March 3rd, 2021.      0 comments

COVID-19 Wage Subsidy March 2021

Further details now available on the March 2021 Wage Subsidy


nz money 100s 50s generic n2Eligibility

To qualify, your business needs to experience a 40% decline in revenue over a consecutive 14-day period between 28 February and 21 March, compared to a typical 14-day period between 4 January and 14 February 2021 (6 weeks before the change in Alert Levels).

This is available to businesses throughout New Zealand.


Payment Rates

The Wage Subsidy March 2021 will be paid for 2 weeks at the rate of:
  • $585.80 a week for each full-time employee retained (20 hours a week or more)
  • $350 a week for each part-time employee retained (less than 20 hours a week).
You can’t get a Wage Subsidy for an employee for the period they're covered by a Leave Support Scheme or Short-Term Absence Payment. 
 

Applications

You'll be able to apply online from 1PM on Thursday 4 March 2021 and payments start from Monday 8 March 2021.

There will be a link to the application form available on the Work and Income website from 1PM on Thursday 4 March 2021: 

https://www.workandincome.govt.nz/covid-19/wage-subsidy/index.html

Stay safe during this latest lockdown period. Please contact the Alliotts team of Chartered Accountants & Business Advisors in Auckland on 09 520 9200 if you would like to consider moving forward with Wage Subsidy assistance.

 

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