Government support for business
COVID19 Resurgence Support Payment & Wage Subsidy
Resurgence Support Payment
The Government activated the Resurgence Support Payment, and businesses can apply through myIR from Tuesday 23 February. It is available to all eligible businesses and organisations in New Zealand.
To be eligible for the payment, your business must have experienced at least a 30% drop in revenue or capital-raising ability over a 7 day period after the increased Alert Level and meet other criteria.
Eligible businesses can apply to receive the lesser of:
- $1,500 plus $400 per full-time equivalent (FTE) employee, up to a maximum of 50 FTEs, or
- 4 times (4x) the actual revenue drop experienced by the business.
COVID-19 Wage Subsidy
The Government announced that the COVID-19 Wage Subsidy will also be available given the escalation to Alert Level 3 in Auckland.
The subsidy will be available to businesses, employers and self-employed workers nationwide who have experienced a decline in revenue due to the restrictions of the increase to Alert Level 3. We will provide an update once further information is available.
Please note businesses who qualify can claim both the Wage Subsidy and the Resurgence Support payment.
Stay safe during this uncertain period. Please call our team of Chartered Accountants and Business Advisers on 09 520 9200 if you would like to consider moving forward with support assistance.