New COVID-19 Framework and Business Support
The Government’s announcement on the next stage in the COVID-19 response plan introduces a new framework of measures that will commence when 90% of eligible New Zealanders are fully vaccinated.
The new framework has three levels: Red, Orange and Green. Each has different levels of restrictions. At all levels businesses will be able to operate, in some form, for vaccinated people.
The advice states, If a business, organisation or service does not wish to request proof of vaccine, they will have to operate with strict limits on capacity and space requirements. They may need to close in Orange and/or Red levels.
For more information on the levels visit the Covid 19 website.
Resurgence Support Payment doubles
From 12 November 2021, the Resurgence Support Payment will be paid fortnightly instead of three weekly.
Businesses can receive $3000 per business plus $800 per full-time employee (FTE), up to 50 FTE (up from$1500 plus $400 per full-time employee)
The maximum fortnightly payment is $43,000.
If you are self-employed, or a sole trader you can receive a payment of $3,800.
The eligibility criteria remains the same.
The Resurgence Support Payment will continue to be available to businesses anywhere in New Zealand until Auckland moves to the new COVID-19 Protection Framework.
NOTE: The next payment, which is available from 29 October through myIR, will remain at the current rate of $1,500 plus $400 per full-time equivalent (FTE) employee, up to a maximum of 50 FTE. Subsequent payments, starting from November 12, will see the increased payment.
Apply for 4th Resurgence Support Payment on Friday 29 October here
Wage Subsidy Scheme
You may still be eligible for the Wage Subsidy scheme if your business has shown a decline in revenue as a result of Alert Levels 3 and 4 in Auckland. Applications for the 5th round of the August 2021 Wage Subsidy are open. You can apply until 11:59pm 28 October 2021. The payment rates and eligibility criteria remain the same.
We are here to help
If, like so many businesses you have been adversely affected, talk to us about how we can help. As your accountant, we’ll review your financial position, assist with cash flow planning, advise you on which schemes you’re eligible for, and will help you to produce the relevant financial information that’s needed when making a loan or grant application.
The months ahead and first quarter of 2022 will be a tough time for many business owners, so reach out now and let us help you get the financial assistance and funding you need.
