Wage Subsidy UPDATE

Wage Subsidy UPDATE

Wage Subsidy UPDATE

In light of the Level 3 restrictions currently in Auckland, the Government has announced a new subsidy, the Resurgence Wage Subsidy.

Applications for this two-week payment are open from 1pm this Friday 21st August 2020 to 11.59pm on 3rd September 2020, for all businesses who meet the criteria, and aren’t receiving the Wage Subsidy or Wage Subsidy Extension.

Key elements of this version of the wage subsidy are:

A business must suffer a 40% actual or predicted decline in revenue for at least 14 consecutive days between 12th August 2020 and 10th September 2020 compared with the same period last year.

The wage subsidy will be available to all businesses in New Zealand, not just those in Auckland.

You can’t receive this subsidy if you are already getting other COVID-19 payments such as the Wage Subsidy, Wages Subsidy Extension or the Leave Support Scheme for an employee.

The wage subsidy will cover a period of two weeks.

The Government has also emphasised that the 8-week Wage Subsidy Extension is still available until 1st September 2020 to those businesses who have not yet utilised it.

You can only receive one COVID-19 subsidy at any one time per employee.

If you have any queries in relation to this latest version of the wage subsidy, please contact us.

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