Resurgence Wage Subsidy!
Updated: Aug 19
The Government has just announced the Resurgence Wage Subsidy which is available to all of NZ and not restricted to just Auckland.
The Resurgence Wage Subsidy is for 2 weeks and applications can be made from 21 Aug - 3 Sep 2020. The rates are set the same at $585.80 (> 20 hours) and $350 (< 20 hours).
The criteria are very similar to that of the first and second subsidy with some changes below:
You have had or expect to have revenue drop of at least 40% for a 14 day period between 12 Aug - 10 Sep 2020 when compared to a similar period last year. Note that this is going back to the same criteria as the first subsidy where you can base it on your expectation of a decline of 40% in revenue eg appointments or bookings cancelled, orders cancelled, physical shop closed etc.
The decline must be related to Covid-19
For businesses operating for less than a year or have high growth, you can compare your revenue against a 14 day period that gives the best estimation of the revenue decline
You cannot receive more than one Covid-19 payment for the same employee at the same time. This means if you have applied for the Wages Subsidy Extension, you cannot apply for this until your 8 weeks under the Wages Subsidy Extension has ended.
All the other usual criteria are still in place, please click here for the details.
As always, make sure you contact OneTeam if you need any assistance with this.
If you haven't applied for the 8 weeks Wage Subsidy Extension, this is still available until 1st September 2020. Check if you qualify for this by clicking here.
Also remember that you can still apply for fundings for any Advisory work that you could very much benefit from ie Cashflow forecast, Business Continuity plans, Finance management. Please click here for more details.