Wage Subsidy #6 – Applications for the sixth Covid-19 Wage Subsidy August 2021, are open for two weeks between 9am, 29 October and 11.59pm, 11 November 2021. More information (MSD)
Resurgence Support Payment #4 – The amount and frequency of the Resurgence Support Payment will be increasing. The next payment (the fourth RSP), 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 will be for $3,000 plus $800 per FTE, still up to a maximum of 50 FTE. The frequency of the payments will also change. They will be available fortnightly, on 12 November, until Auckland moves into the new Covid Protection Framework. More information (IRD)
As Auckland, and now parts of Waikato and Northland, remain locked down at Alert Level 3, further rounds of funding were made available to businesses across the country. This includes a fourth Wage Subsidy and a third Resurgence Support Payment (RSP).
It’s also timely to remind tourism businesses that business advisory support is also available in specific regions, including the Queenstown Lakes District.
Read on for more details on each of these support schemes.
The Wage Subsidy is a payment to support eligible businesses, organisations and the self-employed affected by Alert Levels 3 and 4, so they can continue to pay employees and protect jobs. You can apply for the Wage Subsidy regardless of where your business is located in New Zealand. However, your business must have been affected by the continuation of Alert Level 3 or 4.
The Wage Subsidy is paid in two-week periods. Since the alert level change on 17 August 2021, four rounds of the scheme have been announced: Wage Subsidy August 2021, Wage Subsidy August 2021 #2, Wage Subsidy August 2021 #3 and Wage Subsidy August 2021 #4.
Applications for the first three rounds have now closed.
Applications for the fourth round, Wage Subsidy August 2021 #4, opened on Friday 1 October and will remain open until 11.59pm on Thursday 14 October.
Resurgence Support Payment
The Resurgence Support Payment (RSP) is a payment to help support viable and ongoing businesses or organisations which have experienced a decline in revenue due to a COVID-19 alert level increase to level 2 or higher. If your business or organisation is facing a reduction in revenue due to an alert level increase, you may be eligible for the RSP.
A 3rd payment under the RSP scheme is available to eligible businesses and organisations which experience a 30% decline in revenue due to the increased alert levels, for the period starting 1 October2021 and ending immediately before all areas of New Zealand return to alert level 1. Applications for this payment opened on 8 October.
Support, Recovery & Re-set Plan for tourism businesses
If you run a tourism business in Queenstown Lakes District, Southland District, Kaikōura District, Mackenzie District, or Westland District you may be eligible for funding under the Support, Recovery & Re-set Plan.
There are three initiatives:
- Business Advisory Support
- Advice Implementation Grant
- Tourism Kick-start Fund
As a registered provider, McClean and Co are able to help your business with:
- Finance and cashflow management
- Business continuity planning
- Hibernation and exit advice.
Or please get in touch with us to discuss your options.