With this lockdown in Auckland seeming to go on perpetually, it is a good time to refresh evryone on what assist is on the market and what adjustments have been made to the assist.
If your corporation has diminished income
COVID-19 Wage Subsidy Scheme
The Wage Subsidy Scheme will likely be out there to all companies whereas any a part of the nation is in Alert Ranges 3 or 4. For instance, whereas Auckland is in Alert Ranges 3 or 4, companies in Auckland and different components of the nation can apply for the COVID-19 Wage Subsidy Scheme.
You’ll be able to apply for the COVID-19 Wage Subsidy Scheme to assist maintain paying your workers and defend jobs.
Companies should meet the eligibility standards to use.
Companies and self-employed folks should anticipate a 40% drop in income to be eligible to obtain the wage subsidy.
The wage subsidy is paid in a 2 week lump sum. You will get:
$600 per week for every full-time worker
$359 per week for every part-time worker
You can not get the Wage Subsidy August 2021, Go away Assist Scheme and Quick-Time period Absence Fee for a similar worker on the similar time.
If you happen to utilized for a Wage Subsidy, you will have to attend 2 weeks after your software earlier than you’ll be able to apply for the subsequent Wage Subsidy, even when you have not obtained a cost but.
To use for the wage subsidy go to the work and earnings web site.
COVID-19 Resurgence Assist Fee
The COVID-19 Resurgence Assist Fee helps to cowl wages and glued prices for companies who’ve been immediately affected when there is a rise to Alert Degree 2 or greater for every week or extra.
To be eligible, your corporation should have skilled no less than a 30% drop in income or a 30% decline in capital-raising capacity over a 7-day interval, as a consequence of a rise in Alert Ranges.
You’ll be able to obtain $1,500 per enterprise plus $400 per full-time worker (FTE), as much as 50 FTE.
The utmost cost is $21,500.
If you happen to’re a sole dealer, you’ll be able to obtain a cost of as much as $1,900.
Companies anyplace in New Zealand can apply in the event that they meet the eligibility standards.
You’ll be able to apply for each the COVID-19 Resurgence Assist Fee and the COVID-19 Wage Subsidy Scheme if you happen to meet all of the eligible standards.
You’ll be able to obtain all three funds if you’re eligible for them.
Improve to Resurgence Assist Fee
The Authorities has introduced a rise to the Resurgence Assist Fee as we transition to the brand new COVID-19 Safety Framework.
From 12 November 2021, the Resurgence Assist Fee will likely be paid fortnightly.
-
Companies can obtain $3000 per enterprise plus $800 per full-time worker (FTE), as much as 50 FTE.
-
The utmost fortnightly cost is $43,000.
-
In case you are self employed, or a sole dealer you’ll be able to obtain a cost of $3,800.
The eligibility standards stays the identical.
The Resurgence Assist Fee will proceed to be out there to companies anyplace in New Zealand till Auckland strikes to the brand new COVID-19 Safety Framework.
Small Enterprise Cashflow Mortgage Scheme
If you happen to make use of 50 or fewer workers, you might be able to apply for the Small Enterprise Cashflow Mortgage Scheme. It is a one-off 5 yr mortgage. You’ll be able to borrow a most of $10,000 plus $1,800 per full-time-equivalent worker inside your corporation.
When making use of for the mortgage, you want to have the ability to declare that your corporation is viable.
What you are promoting should have skilled a minimal 30% decline in precise or predicted income over the interval of a month, in contrast with the identical month final yr.
Functions are open till 31 December 2023 by means of myIR. If your corporation doesn’t have a myIR account, you will have to create one to use.
Loans will likely be curiosity free if they’re paid again inside 2 years. The rate of interest is 3% for a most time period of 5 years.
Assist together with your tax
In case you are discovering it laborious to fulfill your tax obligations as a consequence of COVID-19, Inland Income might be able to assist.
If an worker must self-isolate
If an worker has been requested to self-isolate by a physician or well being official, they legally should keep dwelling till they’re advised they now not have to by public well being officers.
If an worker can’t make money working from home whereas self-isolating, you might be able to apply for monetary assist to allow them to proceed to receives a commission.
COVID-19 Go away Assist Scheme
In case your staff have been requested to self-isolate they usually can’t make money working from home, you’ll be able to apply for the COVID-19 Go away Assist Scheme for them. Staff on an informal contract are additionally eligible for the cost.
It’s also possible to use the cost to assist pay staff who:
-
are sick with COVID-19 and have to isolate till a physician tells them they now not have to
-
have been in shut contact with somebody who has COVID-19
-
are at the next threat of getting sick from COVID-19
-
stay with somebody who’s at excessive threat of getting sick from COVID-19, and a physician or well being skilled has advised folks within the family to isolate to cut back the chance of transmitting COVID-19 to weak family members
-
have been requested to self-isolate by public well being officers
-
want to remain dwelling and take care of a dependent youngster who wants assist to self-isolate.
The Go away Assist Scheme is paid as a 2 week lump sum on the fee of:
$600 every week for full-time staff
$359 every week for part-time staff
Employers and staff want to fulfill sure standards to use for the Go away Assist Scheme.
This cost is on the market anytime, and isn’t restricted to a change in Alert Ranges.
You can not get the Wage Subsidy August 2021, Go away Assist Scheme and Quick-Time period Absence Fee for a similar worker on the similar time.
If an worker is ready for the results of a COVID-19 check
If an worker has been requested to get a COVID-19 check, they have to keep dwelling till they get a unfavourable outcome.
If an worker can’t make money working from home, you might be able to apply for monetary assist to allow them to proceed to receives a commission.
COVID-19 Quick-Time period Absence Fee
The COVID-19 Quick-Time period Absence Fee helps companies maintain paying staff who can’t make money working from home and:
-
want to remain at dwelling whereas ready for a COVID-19 check outcome
-
want to remain dwelling and take care of a dependent youngster who has been requested to get a COVID-19 check, or
-
stay with somebody who has been at a location of curiosity and want to remain dwelling whereas they anticipate the particular person within the family to get a unfavourable check outcome.
Staff on an informal contract are additionally eligible for the cost.
You will get a one-off quantity of $359 for every eligible employee whereas they’re staying dwelling ready for check outcomes. The quantity is identical for each full-time and part-time staff.
You’ll be able to apply for the Quick-term Absence Fee any time, not simply when there’s a threat of group transmission, or change in Alert Ranges.
You can not get the Wage Subsidy August 2021, Go away Assist Scheme and Quick-Time period Absence Fee for a similar worker on the similar time.
Extra assist for companies in Auckland
As Auckland transitions to the brand new COVID-19 Safety Framework, companies will be capable of apply for as much as $3000 value of recommendation and planning assist, after which obtain as much as $4,000 to implement that recommendation by means of the established Regional Enterprise Companions programme.
There will even be funding out there for companies to use for psychological well being assist for his or her staff.
