113 Bank Street, Whangarei, Vinetown 09-4388 879 shp@shp.co.nz

Syers Hamilton Pool Accountants Building Whangarei

Latest News

Latest News 

Covid-19 Wage Subsidies Update

Shelley Yeates
/ Categories:

Covid-19 Wage Subsidies Update

With the recent arrival of new community transmitted cases of Covid-19 and the country moving up in alert levels, you are probably aware that the government has extended the wage subsidy scheme.  If eligible, you can apply for a further two weeks of subsidies.

This is a brief reminder to any of you that are eligible that you need to act now as the cut off dates for applying are fast approaching.

Currently there are two wage subsidies still available.  The original subsidy which was first available in March, closed some weeks ago.  The two remaining subsidies that can be applied for are as follows:

The Wage Subsidy Extension

  • This subsidy is available for an eight week period of wages.
  • It is available for employers and self-employed who are significantly impacted by Covid-19.
  • To receive it you must be an eligible employer or self-employed person and your business must have experienced a minimum 40% decline in revenue due to Covid-19, for a continuous 30 day period (in the 40 days before you apply compared to the closest period last year).
  • Applications for this subsidy close just before midnight on the 1st of September.

The Resurgence Wage Subsidy

  • This subsidy is available for a two week period of wages and was announced due to the moving up in alert levels.
  • It is available for employers and self-employed who are significantly impacted by Covid-19.
  • To receive this subsidy you must be an eligible employer or self-employed person and your business must have had, or expect to have, a minimum 40% decline in revenue due to Covid-19, for a 14 day period between 12 August and 10 September 2020 when compared to a similar period in 2019.
  • Applications for this subsidy close at 11.59pm on the 3rd of September.

There are separate eligibility criteria for businesses which have been operating for less than a year or who have experienced substantial growth prior to Covid-19.

Please note, you cannot receive both the Wage Subsidy Extension and the Resurgence Wage Subsidy at the same time.  This means that if you have not yet applied for the Wage Subsidy Extension, you should check your eligibility and, if you qualify, apply for that Subsidy as it covers an eight week period, rather than the Resurgence Wage Subsidy which only covers two weeks.

If you apply for the Resurgence Wage Subsidy you would then be precluded from applying for the Wage Subsidy Extension because of the application time frames.

The last day to apply for the Wage Subsidy Extension is 1 September 2020.  Resurgence Wage Subsidy applications opened on 21 August 2020 and close on 3 September 2020.  Therefore, if a Resurgence Wage Subsidy is applied for, by the time the two week Resurgence Wage Subsidy comes to an end, the deadline for applying for the 8 week subsidy will have passed.

If you would like more information on the wage subsidies and who is eligible to apply etc. click here

If you would like to discuss the wage subsidies with us or require any assistance with applying for them, please give us a call.

Previous Article Update Covid-19 Measures
Next Article Covid-19 – Government Initiatives
Print
187 Rate this article:
5.0

Learn more about SHP