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A further update, now that we have moved into Level 3.

Here is a summary of the latest changes:

The Wage Subsidy Scheme

The August wage subsidy is closing today at 11.59pm so get in quick if you haven’t already applied and are eligible.

The good news is that there is a second wage subsidy of another 2 weeks worth of support. The second round opens from 9am tomorrow (Friday 3 September). The criteria remains the same as the first round.

A reminder of the key details:

This payment is available to businesses to continue paying staff and working owners.

  • Increased slightly from last time to $600 for full time employees and $359 for part-time employees per week and covers a two week period.
  • You must meet the revenue decline test (40%+ decline).

For more information, refer to the Work and Income link below:

We are finding the wage subsidy processing to be varying – some receive theirs in the next day or two while a lot have yet to receive theirs after applying in the first few days. This is down to the sheer volume of applications MSD are processing.

The Resurgence Support Payment

Applications for this are still open.

A reminder of the details:

Businesses that experience a 30% or higher decline in revenue over a 7 day period (due to the increased covid alert level) are eligible.

Amount is lesser of:

  • $1,500 plus $400 per full-time equivalent employee (up to a maximum of 50 employees)
  • four times the actual revenue decline experienced

For more refer to the IRD link below and apply via your MyIR:

https://www.ird.govt.nz/covid-19/business-and-organisations/resurgence- support-payment

Let us know if we can help

We can help with the above applications or assess eligibility for these.

There are also other options that we can advise on to support your business’s cash flow during these times.

Please don’t hesitate to call us or drop us an email.

Email: office@affinityaccounting.co.nz

Phone: 04 974 4455

 

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