As you will be aware the Wage Subsidy Scheme is now available nationwide for those affected. Businesses may apply if they have or expect to have a loss of 40% revenue over the period 17 August 2021 to 30 August 2021 (inclusive) as a result of the current rise in alert levels. The loss of 40% of revenue from 17 August to 30 August 2021 is when compared to a typical 14-day consecutive period of revenue in the six weeks immediately prior to 17 August 2021.
The payment has increased to $600 per week for each full-time equivalent employee (20 hours or more), and $359 per week per part-time employee (less than 20 hours). This will be paid in a two-week lump sum.
Greenlion have had a reminder from the IRD that the COVID-19 Wage Subsidy is designed to support employers and self-employed people throughout New Zealand, so they can continue to pay employees and protect jobs for businesses affected at Alert Levels 3 and 4.
Are you eligible? Applications for the initial two-week Wage Subsidy August 2021, which opened on 20 August 2021, are closing at 11.59pm on Thursday 2 September 2021. Applications for a second round of Wage Subsidy – to be known as Wage Subsidy August 2021 #2 - opens at 9.00am on Friday 3 September and you can apply using the same link above.
Please note that if you have only just applied for the first one, you will need to wait until the two-week payment period has passed before you can re-apply. Work and Income will email these businesses to let them know when they can apply for the new Wage Subsidy #2.
Should you need any help checking if you are eligible for the above or need assistance with the application process, please call your usual Greenlion advisor who will be happy to help.
“We hope you’re coping well with the extension of the current lockdown, however that may look for you and your household”, and for more information on xero bookkeeping and accounting firms Auckland please go to https://www.greenlion.co.nz .
