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Covid support – be sure to claim your entitlement
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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Next round to open Friday
Wage subsidy - round seven
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.
Resurgence Support Payment “ Round Five
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:
- The payment has doubled and will now be $3,000 plus $800 per full-time equivalent (FTE) employee, up to a maximum of 50 FTEs
- Applications for the first, second and third rounds of the resurgence support payment will close on 1 December 2021
- There needs to be a 30% decline in revenue during the relevant period (for the fifth round this is likely to be a seven day period from 5 November 2021). As Auckland and Waikato retail has reopened, care will need to be taken by those businesses to ensure they meet the revenue decline criteria
Important Note
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.
DISCLAIMER: Our team is dedicated to helping you continue with business as usual, as much as you can. Information on government help is changing constantly and within hours of articles being added, the specifics may be out of date or only partially accurate. While we endeavour to keep this website accurate and current, our top priority is providing our clients with dedicated and relevant personal advice. If you need specific and up-to-date information, please seek help from your usual advisor directly.
No liability is assumed by Baker Tilly Staples Rodway for any losses suffered by any person relying directly or indirectly upon any article within this website. It is recommended that you consult your advisor before acting on this information.