We hope you’re keeping sane at Alert Level 4 and enjoying some ‘freedom’ if you are at level 2.
The Government has released further support in the way of a second Resurgence Support Payment. We have summarised the detail below:
Resurgence Support Payment (RSP)
When alert levels are raised to Level 2 or above for 7 days or longer, businesses or organisations who experience at least a 30% drop in revenue or capital-raising ability over this 7-day period will be able to apply.
Today’s announcement says businesses will need to show a 30% or more drop in revenue in a 7-day period from 8 September until immediately before all of NZ returns to Alert Level 1, compared to a typical 7-day period in the 6 weeks before 17 August.
The payment will stay as $1,500 plus $400 per full-time equivalent (FTE) employee up to a maximum of 50 FTEs, or four times the actual revenue decline experienced by the applicant, whichever is less.
Applications for the next RSP will open on Friday 17 September and is available to all businesses until all of New Zealand returns to Alert Level 1 for one month. Please click here to apply.
Also announced, there will be two additional Resurgence Support Payments available, three weeks apart, if we remain at restricted alert levels and the conditions that trigger the RSP apply.
Please note if you are eligible for the wage subsidy you will be eligible for the above. You can apply for both.
Reminder: The eligibility criteria also changed for newer businesses on 9 September 2021. Please visit the IRD website for more information: Eligibility for the Resurgence Support Payment
Further Support available and how to apply
- Wage Subsidy – Please click here to apply.
- Leave Support Scheme – Please click here to apply.
- Short-Term Absence Payment (STAP) – Please click here to apply.
In addition to the above there are options such as the Business Debt Hibernation Scheme, potential rent relief, IRD payment arrangements and tax purchases through tax traders to help minimise the impact on cashflow.
Should you need any help checking if you are eligible for any of the above or need assistance with the application process, please call your usual Greenlion advisor who will be happy to help.