Government's assistance available to businesses during Covid Alert Level 4 Further to our e-newsletter yesterday, we summarise the Government’s assistance available to businesses during Covid Alert Level 4 as follows.
1. Wage Subsidy Scheme (WSS)
Eligible employers anywhere in the country can apply for the WSS if they expect a expect a drop in revenue of 40 percent or greater as a result of the Alert Level increase announced on 17 August 2021. The WSS rates have been increased to reflect the increase in wage costs since the scheme was first introduced in March 2020. Businesses will be eligible for $600 per week per full-time equivalent employee, and $359 per week per part-time employee. The WSS will be paid as a two-week lump sum.
Applications open on 9 am Friday 20 August with the first payments usually available after three days.
For further information and to apply please visit https://workandincome.govt.nz/covid-19/wage-subsidy/index.html
2. Resurgence Support Payment (RSP)
For commonly owned groups, the whole group needs to be eligible before each entity can claim the RSP. Further information is available here.
Applications for the RSP for businesses affected by the 17 August alert level change open at 8 am on Tuesday 24 August.
You can apply directly via myIR login or we can apply on your behalf as your tax agents. For further information please visit https://www.ird.govt.nz/covid-19/business-and-organisations/resurgence-support-payment/eligibility
3. Leave Support Scheme (LSS)
The LSS 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 are unable to work from home. More information is available here.
4. Short-Term Absence Payment (STAP)
The STAP provides a one-off (once per 30 days) $350 payment for workers who must miss work due to a COVID-19 test and are unbable to work from home. Further information is available on the MSD website.
We would strongly suggest to organize all the information required to apply at the earliest to ensure you are able to apply promptly as soon as application is open. Please feel free to get in touch with us if you require any assistance on the above. We will continue to provide any update on the financial support status as the news becomes available.
We wish you all the very best during these difficult times, rest assured we are here to support you. If there is anything you need whether it be a friendly chat or answer to a difficult question, please give us a call or send us an e-mail.
Stay safe and be kind; we are all in this together
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