With this lockdown in Auckland seeming to go on endlessly, it is a good time to refresh evryone on what assist is out there and what modifications have been made to the assist.
If your corporation has decreased income
COVID-19 Wage Subsidy Scheme
The Wage Subsidy Scheme might 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 will 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, Go away Assist Scheme and Quick-Time period Absence Fee for a similar worker on the similar time.
If you happen to utilized for a Wage Subsidy, you have to to attend 2 weeks after your utility earlier than you may apply for the subsequent Wage Subsidy, even when you have not acquired a cost but.
To use for the wage subsidy go to the work and earnings web site.
COVID-19 Resurgence Assist Fee
The COVID-19 Resurgence Assist Fee helps to cowl wages and glued prices for companies who’ve been instantly affected when there is a rise to Alert Stage 2 or greater for per week or extra.
To be eligible, your corporation will need to have skilled at the least a 30% drop in income or a 30% decline in capital-raising potential over a 7-day interval, on account of 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 cost is $21,500.
If you happen to’re a sole dealer, you may obtain a cost of as much as $1,900.
Companies wherever in New Zealand can apply in the event that they meet the eligibility standards.
You may apply for each the COVID-19 Resurgence Assist Fee and the COVID-19 Wage Subsidy Scheme should you meet all of the eligible standards.
You may obtain all three funds if you’re eligible for them.
Enhance to Resurgence Assist Fee
The Authorities has introduced a rise to the Resurgence Assist Fee as we transition to the brand new COVID-19 Safety Framework.
From 12 November 2021, the Resurgence Assist Fee might be paid fortnightly.
Companies can obtain $3000 per enterprise plus $800 per full-time worker (FTE), as much as 50 FTE.
The utmost fortnightly cost is $43,000.
In case you are self employed, or a sole dealer you may obtain a cost of $3,800.
The eligibility standards stays the identical.
The Resurgence Assist Fee will proceed to be obtainable to companies wherever in New Zealand till Auckland strikes to the brand new COVID-19 Safety Framework.
Small Enterprise Cashflow Mortgage Scheme
If you happen to make use of 50 or fewer workers, you might be able to apply for the Small Enterprise Cashflow Mortgage Scheme. It is a one-off 5 12 months mortgage. You may borrow a most of $10,000 plus $1,800 per full-time-equivalent worker inside your corporation.
When making use of for the mortgage, you want to have the ability to declare that your corporation is viable.
Your online business will need to have skilled a minimal 30% decline in precise or predicted income over the interval of a month, in contrast with the identical month final 12 months.
Purposes are open till 31 December 2023 by means of myIR. If your corporation doesn’t have a myIR account, you have to to create one to use.
Loans might 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
In case you are discovering it onerous to satisfy your tax obligations on account of COVID-19, Inland Income might be able to assist.
If an worker must self-isolate
If an worker has been requested to self-isolate by a physician or well being official, they legally should keep house till they’re advised they not must by public well being officers.
If an worker can not earn a living from home whereas self-isolating, you might be able to apply for monetary assist to allow them to proceed to receives a commission.
COVID-19 Go away Assist Scheme
In case your staff have been requested to self-isolate they usually can not earn a living from home, you may apply for the COVID-19 Go away Assist Scheme for them. Workers on an informal contract are additionally eligible for the cost.
You can even use the cost to assist pay staff who:
are sick with COVID-19 and must isolate till a physician tells them they not must
have been in shut contact with somebody who has COVID-19
are at the next danger of getting sick from COVID-19
stay with somebody who’s at excessive danger of getting sick from COVID-19, and a physician or well being skilled has advised individuals within the family to isolate to cut back the chance of transmitting COVID-19 to susceptible family members
have been requested to self-isolate by public well being officers
want to remain house and take care of a dependent youngster who wants assist to self-isolate.
The Go away Assist Scheme is paid as a 2 week lump sum on the price of:
$600 per week for full-time staff
$359 per week for part-time staff
Employers and staff want to satisfy sure standards to use for the Go away Assist Scheme.
This cost is out there anytime, and isn’t restricted to a change in Alert Ranges.
You can’t get the Wage Subsidy August 2021, Go away Assist Scheme and Quick-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 need to keep house till they get a damaging consequence.
If an worker can not earn a living from home, you might be able to apply for monetary assist to allow them to proceed to receives a commission.
COVID-19 Quick-Time period Absence Fee
The COVID-19 Quick-Time period Absence Fee helps companies maintain paying staff who can not earn a living from home and:
want to remain at house whereas ready for a COVID-19 check consequence
want to remain house and take care of a dependent youngster who has been requested to get a COVID-19 check, or
stay with somebody who has been at a location of curiosity and wish to remain house whereas they look forward to the particular person within the family to get a damaging check consequence.
Workers on an informal contract are additionally eligible for the cost.
You will get a one-off quantity of $359 for every eligible employee whereas they’re staying house ready for check outcomes. The quantity is identical for each full-time and part-time staff.
You may apply for the Quick-term Absence Fee any time, not simply when there’s a danger of group transmission, or change in Alert Ranges.
You can’t get the Wage Subsidy August 2021, Go away Assist Scheme and Quick-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 have the ability to apply for as much as $3000 value of recommendation and planning assist, after which obtain as much as $4,000 to implement that recommendation by means of the established Regional Enterprise Companions programme.
There may even be funding obtainable for companies to use for psychological well being assist for his or her staff.
