This article was originally created for Hayes Knight (now Nexia Auckland).
Home > Updates > Covid-19 Business Support Package
The wage subsidy package is available from March 17 for any employer or self-employed person who has suffered, or is projected to suffer, a 30 per cent or more drop in revenue compared to any months between January 2019 and June 2019.
$585 per week will be available for full-time workers and $350 per week for part-time workers for a period of 12 weeks, with the maximum amount an employer can receive being $150,000.
Employers must declare that they will use their best endeavours to continue to employ affected employees at a minimum of 80 per cent of their income for the next 12 weeks. Employers must also have taken active steps to mitigate the impact of Covid-19, such as engaging with their banks or financial advisors.
Apply for the wage subsidy here.
Leave and self-isolation support will be available for employees and self-employed for 2 weeks at the same rates as the wage subsidy package for people caring for others who have Covid-19 and for people in self-isolation. People with Covid-19 will have support for the entire period of their sickness. The leave and self-isolation support will however not be available for those who can work from home. Nor will the self-isolation payments be available to people who leave NZ after March 16 and return.
Apply for the leave support here.
The Government’s May Budget will now be a ‘recovery budget’ and will contain further support measures.
If you would like to discuss any of the above, or how Covid-19 is impacting your business, please contact your Hayes Knight Advisor.