What does the wage subsidy extension mean for your business?
Find out how you can apply for the Government Resurgence Wage subsidy.19 August 2020
With the reemergence of Covid-19 in New Zealand, the Government has extended the wage subsidy for an additional two weeks, so it will now end on September 14.
This new Resurgence Wage Subsidy is open for applications from 1PM August 21 to September 3, 2020. You can only receive one subsidy at any one time per employee. The criteria is similar to the current extension, which was due to end on September 1, 2020.
It's important to know that this subsidy isn’t dependent on the current Alert Level in your area, it’s available for Kiwi businesses nationwide. However, to be eligible for subsidy, you must meet the following criteria:
- Your business(es) must have had, or are predicting to have, a revenue decline of at least 40%, due to Covid-19.
- Your business’ revenue decline applies for any consecutive period of at least 14 days within August 12 and September 10 compared to last year, for this new extension.You must nominate a 14 day period within these dates.
Payment rates and processing times
The two week payment will run from the date you apply, and will be paid at a flat rate of:
- $585.80 for people working 20 hours or more per week (full-time rate)
- $350.00 for people working less than 20 hours per week (part-time rate).