10 September 2021
Today the Minister of Finance has announced a second payment of the Resurgence Support Payment (RSP). The 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 return to Alert Level 1 compared to a typical 7 day period in the 6 weeks before 17 August.
The payment will stay at $1,500 plus $400 per FTE up to a maximum of 50 FTE’s or four times the actual revenue decline experienced, whichever is less.
- Applications for the 2nd payment will open at 8am Friday 17 September.
- Applications for both payments will remain open until 1 month after the whole of NZ returns to Alert Level 1.
1 September 2021
The initial two week Wage Subsidy August 2021, which opened on 20 August 2021, closes at 11:59pm tomorrow, Thursday 2 September 2021.
Applications for the second round of Wage Subsidy – known as Wage Subsidy August 2021 #2 opens at 9:00am on Friday 3 September. The current criteria for this round of wage subsidy is that this is for all businesses and self-employed who have or predict at least 40% decline in their revenue from 31 August to 13 September 2021.
The attached is the link to the WINZ website which will give you all the updated information
https://www.workandincome.govt.nz/about-work-and-income/news/2021/ws-applications.html
30 August 2021
The COVID-19 Wage Subsidy August 2021 will be available for another two week payment from 3 September. More information will be available about this soon, including how to reapply.
22 August 2021
Well, wasn’t that a bit of a shock to the system? Tuesday last week we are ticking along as normal with not a clue anything is out of the ordinary and by midnight we are back in a Level 4 lockdown. This time though we know what we’re doing right – we’ve been here before and we’ve got this!
The 3rd Arm team are all set up and continuing to work as ‘normal’ so please let us know if you need any support or just have queries you want answered. We know this is a stressful time and we’re here to help.
Government Updates
As of today (Sunday 22 August) there are two main forms of support available. We will continue to update this if anything changes:
1. Resurgence Support Payment or RSP
The Resurgence Support Payment is designed to help a business to keep paying its overhead costs (eg rent, insurance, suppliers) through the period of the lockdown to ensure you’re still here to reopen the doors when this lockdown is over
Eligibility – 30% drop in revenue over a 7 day period as a direct result of the lockdown. When calculating this you compare these 7 days against a “typical” 7 days in the previous 6 weeks.
Available from– Application open at 8am on Tuesday 24 August 21
Value – You can apply to receive the lesser of:
- $1,500 plus $400 per full-time equivalent (FTE) employee, up to a maximum of 50 FTEs
- Four times the actual revenue decline experienced by the company
How to Apply – This payment is from Inland Revenue and to apply you log in to your MYIR and register online. Once you’ve logged in select “Apply for Resurgence Support” in the “I Want to” section and follow the instructions.
2. Wage Subsidy Scheme or WSS
The Wage Subsidy is a support scheme designed to help a business to continue to pay its employees and protect jobs during the period of a lockdown.
Eligibility – 40% drop in revenue over a 7 day period as a direct result of the lockdown. Again, when calculating this you compare these 7 days against a “typical” 7 days in the previous 6 weeks.
Available from – application for this subsidy opened on Friday 20th August and will stay open for two weeks.
Value – The Wage Subsidy August 2021 version will cover a two week period at the rate of:
- $600 a week for each full time employee (20 hours a week or more)
- $359 a week for each part-time employee (less than 20 hours a week) .
How to Apply – The Wage Subsidy Scheme is run through Work and Income – simply go to their website and apply online. https://www.workandincome.govt.nz/covid-19/wage-subsidy/how-to-apply.html
3. Leave Support Scheme and Short-Term Absence Payment
These subsidies are still around and still available.
Leave Support Scheme – is for employers, to help pay their employees who need to self-isolate and can’t work from home. Availability criteria is here https://www.workandincome.govt.nz/covid-19/leave-support-scheme/who-can-get-it.html
Short-Term Absence Payment – is available for businesses, including self-employed to help pay their workers who cannot work from home while they wait for a COVID-19 test result. Availability criteria is here https://www.workandincome.govt.nz/covid-19/short-term-absence-payment/index.html
There is a lot of information and there are bound to be many “What if” questions so as always the 3rd Arm Team are here to help. Please feel free to give us a call on 04 2329199 or leave your details below and we will be in touch.
