COVID-19: Financial support for businesses
The New Zealand government has several options offering support during Covid-19 alert levels. Please refer to the applicable websites for conditions and details.
Resurgence Support Payment
The Resurgence Support Payment (RSP) is a payment to help support viable and ongoing businesses or organisations due to a COVID-19 alert level increase to Level 2 or higher, and will be eligible if they experience a 30% drop in revenue over a seven day period after an alert level increase and meet other eligibility criteria.
The Wage Subsidy Scheme is a payment to support employers so they can continue to pay employees and protect jobs for businesses affected by the move to Alert Level 4 on 17 August 2021. The Wage Subsidy is available to eligible businesses, organisations and the self-employed impacted by the move.
A COVID-19 Short-Term Absence Payment is available at all Alert Levels to employers to pay workers who follow public health guidance and are staying home while waiting for a COVID-19 test result. It’s also available to eligible self-employed workers. To be eligible, workers need to be unable to work from home and need to miss work while waiting for the test results.
The COVID-19 Leave Support Scheme provides a payment to businesses to pay their workers who meet certain health criteria, e.g. they have COVID-19. This is also available if you’re self-employed. If you, or your staff have been told by a health official to self-isolate and cannot work from home, you can apply for the COVID-19 Leave Support Scheme.
Small Business Cash Flow Loan Scheme (SBCS) The government will provide loans to small businesses, including sole traders and the self-employed, impacted by COVID-19 to support their cash flow needs. Check out the availability tool for further information.
Tax and ACC support If you’re having difficulties meeting your tax obligations due to COVID-19, Inland Revenue and ACC has various support schemes and options to help.
Business debt hibernation is a government initiative created in response to COVID-19. It helps companies, trusts, and other business entities affected by COVID-19 to manage their debts. Applications are open until 31 October 2021.
Financial support tool from the Unite against Covid website can help you find out what financial help may be available to you.
My Mobile Accountant is here to help and advise, if you feel you need help during higher alert levels.
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