Government Support For COVID-19
The Government has put together a COVID-19 Wage Subsidy for employers.
It’s to support your business if you’re impacted by COVID and face laying off staff or reducing their hours because of COVID-19.
Who can get it
If you’re an employer, contractor, sole trader or self-employed, you may qualify to get the COVID-19 wage subsidy.
- your business must be registered and operating in New Zealand
- your employees must be legally working in New Zealand
- the business must have experienced a minimum 30% decline in actual or predicted revenue over the period of a month when compared with the same month last year, and that decline is related to COVID-19
- your business must have taken active steps to mitigate the impact of COVID-19
- you must make best efforts to retain employees and pay them a minimum of 80% of their normal income for the subsidised period.
How much you can get
The COVID-19 Wage Subsidy will be paid at a flat rate of:
- $585.80 for people working 20 hours or more per week
- $350.00 for people working less than 20 hours per week.
The subsidy is paid as a lump sum and covers 12 weeks per employee.
This subsidy is for wages only. It is to help you keep your staff employed while you consider changes that may be needed while the disruption continues, and to ensure the future viability of your business.
If you think you qualify please book in a time for me to give you a call to discuss via this link HERE. We can apply for you on your behalf.
If we need to dynamically look at your workforce to adapt to cashflow constraints, please get in touch with us and we can help you navigate these uncharted territories.
This is a tough time, please keep in mind we are here to help.
Simon & The Team at Navigator Accounting