The goal is 90% – here’s the support package
October 22, 2021
Todays announcement has certainly given us something to think about and to work towards. If you haven’t already we do urge you to get vaccinated. Your action now could be the difference for some of our clients coming out with a business intact.
In todays announcement Minister Robertson has shared the path forward as we transition to the new COVID protection framework.
These will still be available fortnightly while NZ is in the Alert Level framework for any business affected by a rise to Alert Level 3.
Applications are open for Wage Subsidy #5, and businesses may apply if they have or expect to have a loss of 40% revenue over the period 12th to 25th October 2021 (inclusive) as a result of the current alert levels. The loss of 40% of revenue from 12th to 25th October 2021 is when compared to a typical 14-day consecutive period of revenue in the six weeks immediately prior to 17th August 2021 (Start of this outbreak/lockdown).
If you have already applied for Wage Subsidy #4 you need to wait until two weeks after you’ve applied before you can apply for Wage Subsidy August 2021 #5. If you apply earlier than this, your application for the new subsidy will be declined.
A reminder will be sent once you are able to re-apply from WINZ. Applications are open until 11.59pm on Thursday 28th October, to apply, please click here.
Resurgence Support Payment (RSP)
Applications for next available payment Resurgence Support Payment #4 will open on Friday 29th October and will be the last one under the current framework.
Minister Robertson announced that from 12th November the payment amount will increase and move to a fortnightly application and payment. For the payments starting on 12th of November this will be $3000 per eligible business and $800 per FTE, up to 50 FTEs. This will make the maximum fortnightly payment $43,000.
You will still need to show a 30% or more drop in revenue in a 7-day period from 17th August and/or 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 2021.
Both the affected revenue period and the comparison period must be calculated retrospectively. The calculations must be based on what has happened, not a forecast of what might happen.
Please click here to apply.
Please note if you are eligible for the Wage Subsidy you will more than likely be eligible for the Resurgence Support Payment. You can apply for both.
As part of this $60 million, $10 million will go to mental health and wellbeing support via the EMA and Auckland Business Chamber of Commerce.
Greenlion is a registered provider for Business Advice and will have packages available to assist you with planning and implementation. When we have further information on how to apply for either of these we update you.
Reminder: The eligibility criteria changed on the 9th of September to incorporate newer businesses. Please visit the IRD website for more information: Eligibility for the Resurgence Support Payment
Further Support available and how 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.