The Wage Subsidy extension is now available to apply for. Here are a few things to note before you apply:
It is for an 8 week period and the payment rates are the same as before ($585.80 and $350.00).
You must have a 40% decline in revenue - please note this is a 40% decline in actual revenue and not predicted revenue.
To determine a decline in revenue, you must compare a 30 day continuous period in the 40 days before you apply against the closest period last year. For example, if you apply on 20 June 2020, you can use a continuous 30 days period within 10 May - 20 Jun (40 days window) and compare this revenue against the closest period last year (1-2 days off due to weekends or public holidays).
Businesses operating for less than a year or have high growth can also apply and you would compare the revenue aginst a previous month or a comparable 30 days period within the last 12 months.
If you have applied for the initial 12 weeks Wage Subsidy, you can only apply for the extension once your 12 weeks have finished.
If you applied for certain employees at different times, say new employees that came onboard after you applied for the 12 weeks Wage Subsidy, you can't apply for these employees until the 12 weeks have finished for them.
If you haven't applied for the Wage Subsidy before (or for certain employees), you can still apply for the Wage Subsidy Extension.
Applications open on 10 June 2020 to 1 September 2020
There are the other usual criteria that you have to meet eg must mitigate financial impact, retain the employees you are applying for etc so make sure you are clear of these before you apply. For the details, please click here.
Click here to read the declaration for the Wage Subsidy Extension
Click here to apply as an employer
(always remember to have employees consent to you providing the information required if they haven't already. Have them read this and consent by signing or email)
Click here to apply as a self-employed (no employees)