GRA Blogs

Articles by Salesh Chand

Government Covid Support Update

AUTHOR: Salesh Chand

POSTED: 07 September 2021

Following on form my previous Covid Support blog, there are a couple of Covid-related government support updates you should know about.

Wage Subsidy

The Government have announced a second wage subsidy, called the Wage Subsidy August 2021 #2.

1. Applications are open from 3-16 September 2021.

2. If you applied for the first subsidy, you must wait 14 days after your original application before applying for the second subsidy.

3. If you applied and were eligible for the first subsidy, Work and Income will contact you to tell you when you can apply for this one.

4. Your drop in revenue of 40% must be during the period 31 August to 13 September 2021, compared to a 14-day period before the lockdown.

5. The payments are the same as the first August 2021 wage subsidy: $600 per week for a full-time employee; $359 per week for a part-time employee.

6. You can apply here: https://www.workandincome.govt.nz/covid-19/wage-subsidy/index.html

Resurgence Support Payment

1. There are no further resurgence support payments available at this stage. **

** Since this blog was first posted, the government have announced a second resurgence support payment, which you can apply for from 17 September 2021.

2. However, the government have amended the eligibility criteria, making it easier to qualify:

• Originally your business had to be operating (receiving revenue) for six months prior to lockdown to be eligible. This has been changed to one month. The new criteria take effect from 9 September 2021.

3. You can apply for the resurgence support payment if, due to lockdown, your revenue has reduced by 30% or you have a 30% decline in capital raising ability over a 7-day period compared to a regular 7-day period.

4. You can receive $1,500, plus $400 per full-time employee, up to 50 employees. The maximum payment is $21,500. Sole traders can receive a payment of up to $1,900.

5. If you are eligible and haven’t yet done so, you can apply for the resurgence payment here: https://www.ird.govt.nz/covid-19/business-and-organisations/resurgence-support-payment

As always, if there is anything we can do to assist please contact us on +64 9 522 7955, [email protected] or via our website.

Stay safe.

Request a Meeting

Salesh Chand
Partner/Business Advisory Director

09 522-7955

[email protected]

© Gilligan Rowe & Associates LP

Did you like this article? Subscribe to our newsletter to receive tips, updates and useful information to help you protect your assets and grow your net worth. We're expert accountants providing expert advice to clients in NZ and around the world.

Disclaimer: This article is intended to provide only a summary of the issues associated with the topics covered. It does not purport to be comprehensive nor to provide specific advice. No person should act in reliance on any statement contained within this article without first obtaining specific professional advice. If you require any further information or advice on any matter covered within this article, please contact the author.

Comments

Testimonials

I really like the fact all the Property School presenters walk the talk. - Tony L, October 2018

We can help

Here's how

Investing in residential property?

Put this at the top of your reading list.

If you're investing in residential property, seeking to maximise your ability to succeed and minimise risk, then this is a 'must read'.

Matthew Gilligan provides a fresh look at residential property investment from an experienced investor’s viewpoint. Written in easy to understand language and including many case studies, Matthew explains the ins and outs of successful property investment.