Transition Payment announced for Covid Protection Framework

IMPORTANT UPDATE: The Transition Payment is now closed. See Business.govt.nz for details of COVID-19 financial support currently available for businesses.

With the move to the Covid Protection Framework on 3 December 2021, the Government has announced a one-off Transition Payment for affected businesses using the same criteria as the current Resurgence Support Payment (RSP).

The period to assess affected revenue will be between 3 October and 9 November 2021. It is expected that it will most likely be businesses in Auckland, Waikato and Northland that will meet the criteria, as they have been at Alert Level 3 at some point during the assessment period and are most likely to have suffered reduced revenue.

The one-off Transition Payment will be $4,000 per business and $400 per FTE, up to 50 FTEs, with a maximum one-off payment of $24,000.

The Transition Payment is in addition to the final Wage Subsidy payment which opened on 26 November 2021 and the final RSP that opened on 19 November 2021.

Applications opened on 10 December, and businesses can apply for the payment by logging into their MyIR account. Further information can be found on the Inland Revenue’s website. 

If you have any questions, please speak to your Nexia advisor or you can get in touch via our general contact details.