Government support update
Wage SubsidyApplications for the seventh round of the wage subsidy will be closing at 11:59pm on 25 November...
Recent changes to the structure of government COVID support for businesses mean the dates on which applications open will now be aligned. Applications for both the next round of the wage subsidy and the next round of the resurgence support payment will be opening this Friday (12 November 2021).
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Applications for the sixth round of the wage subsidy will be closing at 11:59pm today 11 November 2021.
Applications for the seventh round of the wage subsidy are expected to open at 9am on 12 November 2021. The eligibility criteria for the wage subsidy remain the same as before, but we note the need for a 40% revenue decline in the revenue test period (likely to be 9 November 2021 to 22 November 2021) caused by the Level 3 restrictions. As Auckland and Waikato retail has reopened, care will need to be taken by those businesses to ensure they meet the revenue decline criteria.
Applications for the fifth round of the resurgence support payment are expected to open on 12 November 2021. The eligibility criteria for the resurgence support payment remain the same as before, but please note the following:
Inland Revenue have identified that many businesses have not applied for the resurgence support payment because the business owners wrongly assumed they had to choose either the wage subsidy or the resurgence support payment.
We emphasise that if you meet the necessary criteria, your business can apply for both the resurgence support payment and the wage subsidy. These payments are designed to help businesses in different ways, with the resurgence support to assist in covering day to day costs such as rent and utilities, while the wage subsidy is designed to assist in the payment of employees.
If your business has not yet applied for government support and meets the necessary criteria, then we urge you to apply for assistance. The government is wanting to ensure as many viable businesses are kept going as possible and is providing the support to do its part.
If you have any queries, or require assistance with the application process, please contact your Baker Tilly Staples Rodway advisor.
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