With this lockdown in Auckland seeming to go on without end, it is a good time to refresh evryone on what assist is on the market and what adjustments have been made to the assist.
If what you are promoting has decreased income
COVID-19 Wage Subsidy Scheme
The Wage Subsidy Scheme will likely be obtainable to all companies whereas any a part of the nation is in Alert Ranges 3 or 4. For instance, whereas Auckland is in Alert Ranges 3 or 4, companies in Auckland and different elements of the nation can apply for the COVID-19 Wage Subsidy Scheme.
You may apply for the COVID-19 Wage Subsidy Scheme to assist maintain paying your workers and shield jobs.
Companies should meet the eligibility standards to use.
Companies and self-employed individuals should count on a 40% drop in income to be eligible to obtain the wage subsidy.
The wage subsidy is paid in a 2 week lump sum. You may get:
$600 per week for every full-time worker
$359 per week for every part-time worker
You can’t get the Wage Subsidy August 2021, Depart Help Scheme and Brief-Time period Absence Fee for a similar worker on the similar time.
Should you utilized for a Wage Subsidy, you will have to attend 2 weeks after your utility earlier than you possibly can apply for the following Wage Subsidy, even when you have not obtained a fee but.
To use for the wage subsidy go to the work and earnings web site.
COVID-19 Resurgence Help Fee
The COVID-19 Resurgence Help Fee helps to cowl wages and stuck prices for companies who’ve been instantly affected when there is a rise to Alert Stage 2 or greater for every week or extra.
To be eligible, what you are promoting should have skilled no less than a 30% drop in income or a 30% decline in capital-raising means over a 7-day interval, attributable to a rise in Alert Ranges.
You may obtain $1,500 per enterprise plus $400 per full-time worker (FTE), as much as 50 FTE.
The utmost fee is $21,500.
Should you’re a sole dealer, you possibly can obtain a fee of as much as $1,900.
Companies anyplace in New Zealand can apply in the event that they meet the eligibility standards.
You may apply for each the COVID-19 Resurgence Help Fee and the COVID-19 Wage Subsidy Scheme in case you meet all of the eligible standards.
You may obtain all three funds if you’re eligible for them.
Improve to Resurgence Help Fee
The Authorities has introduced a rise to the Resurgence Help Fee as we transition to the brand new COVID-19 Safety Framework.
From 12 November 2021, the Resurgence Help Fee will likely be paid fortnightly.
Companies can obtain $3000 per enterprise plus $800 per full-time worker (FTE), as much as 50 FTE.
The utmost fortnightly fee is $43,000.
If you’re self employed, or a sole dealer you possibly can obtain a fee of $3,800.
The eligibility standards stays the identical.
The Resurgence Help Fee will proceed to be obtainable to companies anyplace in New Zealand till Auckland strikes to the brand new COVID-19 Safety Framework.
Small Enterprise Cashflow Mortgage Scheme
Should you make use of 50 or fewer workers, you could possibly apply for the Small Enterprise Cashflow Mortgage Scheme. This can be a one-off 5 yr mortgage. You may borrow a most of $10,000 plus $1,800 per full-time-equivalent worker inside what you are promoting.
When making use of for the mortgage, you want to have the ability to declare that what you are promoting is viable.
Your small business should have skilled a minimal 30% decline in precise or predicted income over the interval of a month, in contrast with the identical month final yr.
Purposes are open till 31 December 2023 by way of myIR. If what you are promoting doesn’t have a myIR account, you will have to create one to use.
Loans will likely be curiosity free if they’re paid again inside 2 years. The rate of interest is 3% for a most time period of 5 years.
Assist along with your tax
If you’re discovering it onerous to satisfy your tax obligations attributable to COVID-19, Inland Income could possibly assist.
If an worker must self-isolate
If an worker has been requested to self-isolate by a health care provider or well being official, they legally should keep residence till they’re instructed they not have to by public well being officers.
If an worker can not do business from home whereas self-isolating, you could possibly apply for monetary assist to allow them to proceed to receives a commission.
COVID-19 Depart Help Scheme
In case your workers have been requested to self-isolate and so they can not do business from home, you possibly can apply for the COVID-19 Depart Help Scheme for them. Staff on an informal contract are additionally eligible for the fee.
You too can use the fee to assist pay workers who:
are sick with COVID-19 and have to isolate till a health care provider tells them they not have to
have been in shut contact with somebody who has COVID-19
are at a better threat of getting sick from COVID-19
reside with somebody who’s at excessive threat of getting sick from COVID-19, and a health care provider or well being skilled has instructed individuals within the family to isolate to scale back the danger of transmitting COVID-19 to susceptible family members
have been requested to self-isolate by public well being officers
want to remain residence and take care of a dependent baby who wants assist to self-isolate.
The Depart Help Scheme is paid as a 2 week lump sum on the charge of:
$600 every week for full-time workers
$359 every week for part-time workers
Employers and workers want to satisfy sure standards to use for the Depart Help Scheme.
This fee is on the market anytime, and isn’t restricted to a change in Alert Ranges.
You can’t get the Wage Subsidy August 2021, Depart Help Scheme and Brief-Time period Absence Fee for a similar worker on the similar time.
If an worker is ready for the results of a COVID-19 check
If an worker has been requested to get a COVID-19 check, they have to keep residence till they get a unfavourable end result.
If an worker can not do business from home, you could possibly apply for monetary assist to allow them to proceed to receives a commission.
COVID-19 Brief-Time period Absence Fee
The COVID-19 Brief-Time period Absence Fee helps companies maintain paying workers who can not do business from home and:
want to remain at residence whereas ready for a COVID-19 check end result
want to remain residence and take care of a dependent baby who has been requested to get a COVID-19 check, or
reside with somebody who has been at a location of curiosity and want to remain residence whereas they look forward to the individual within the family to get a unfavourable check end result.
Staff on an informal contract are additionally eligible for the fee.
You may get a one-off quantity of $359 for every eligible employee whereas they’re staying residence ready for check outcomes. The quantity is similar for each full-time and part-time workers.
You may apply for the Brief-term Absence Fee any time, not simply when there’s a threat of group transmission, or change in Alert Ranges.
You can’t get the Wage Subsidy August 2021, Depart Help Scheme and Brief-Time period Absence Fee for a similar worker on the similar time.
Further assist for companies in Auckland
As Auckland transitions to the brand new COVID-19 Safety Framework, companies will be capable to apply for as much as $3000 price of recommendation and planning assist, after which obtain as much as $4,000 to implement that recommendation by way of the established Regional Enterprise Companions programme.
There will even be funding obtainable for companies to use for psychological well being assist for his or her workers.