There is a range of financial support that will be rolled out over the coming days to support businesses.
We've collated the essential information on these support options in a factsheet for you. Click the button below to download a copy of the factsheet.
The Wage Subsidy
This is available nationwide whenever anywhere in the country is put into Alert Level 3 or 4 for a period of at least 7 days.
When Will It Be Available
The government has suggested that applications will be open via the MSD website from Friday this week.
Eligibility for the Wage Subsidy
To be eligible, your business must experience a drop in revenue of at least 40% as a direct result of the heightened lockdown settings.
Payment Rates for the Wage Subsidy
The payment rates for the wage subsidy have been increased as a result of the growth in wages since the subsidy was first released last year. The new rates are:
$600/week per full-time employee, and
$359/week per part-time employee.
The payment will be made in a two-week lump sum.
The Resurgence Support Payment
This is available nationwide whenever anywhere in the country is put into Alert Level 2 or higher for a period of at least 7 days.
When Will It Be Available
The government has suggested that applications will be open via the IRD website from Monday next week. We are expecting an update from IRD later this afternoon on the specifics for application.
Eligibility for the Resurgence Support Payment
To be eligible, your business must experience a drop in revenue of at least 30% as a direct result of the heightened lockdown settings.
Payment Rates for the Wage Subsidy
The Resurgence Support Payment is paid at a rate of $1,500 as a base rate for the business, then $400 per full-time equivalent employee.
Sole traders qualify for a maximum payment of $1,900.
Businesses qualify for a maximum payment of $21,500.
If you need any further information, please contact us, we are here to help.