Wages Subsidy March 2021
To qualify, your business needs to experience or expect a 40% decline in revenue over a consecutive 14-day period between 28 February and 21 March, compared to a typical 14-day period between 4 January and 14 February 2021 (6 weeks before the change in alert levels). This is available to businesses throughout New Zealand. You’ll be able to apply online from 1pm on Thursday 4 March 2021 and payments start from Monday 8 March 2021.
The Wage Subsidy March 2021 will be paid for 2 weeks at the rate of:
- $585.80 a week for each full-time employee retained (20 hours a week or more)
- $350 a week for each part-time employee retained (less than 20 hours a week).
You can’t get a Wage Subsidy for an employee for the period they’re covered by a Leave Support Scheme or Short-Term Absence Payment.
Resurgence Support Payment
Applications are currently still open to firms affected by the alert level escalation in February 2021. The last day for applications for this event is Monday 22 March 2021. Applicants must demonstrate that the impact to their revenue is for this alert level period.
Applications will open for a second round of RSP. Businesses and organisations can apply from 8 March. Applications will remain open for one month after a nationwide return to alert level 1 . Businesses and organisations that have experienced a 30% revenue loss as a result of both periods at higher alert levels will need to make 2 applications by choosing a start date. They would be eligible for 2 payments.
Leave Support Scheme
The COVID-19 Leave Support Scheme is available for employers, including self-employed people, to help pay their employees who need to self-isolate and can’t work from home.
It’s paid as a lump sum and covers 2 weeks per eligible employee. It’s paid at a flat rate of:
- $1176.60 for people who were working 20 hours or more per week (full-time rate)
- $700 for people who were working less than 20 hours per week (part-time rate).
Short Term Absence Payment
A new COVID-19 Short-term Absence Payment is available from 9am on 9 February 2021. It’s to help businesses keep paying eligible workers who:
- cannot work from home and
- need to miss work to stay at home while waiting on a COVID-19 test result
There’s a one-off payment of $350 for each eligible worker.
It will also be available to self-employed workers.
Parents or caregivers who need to miss work to support their dependents who are staying at home awaiting a test result will also be eligible.
Small Business Cashflow Loan Scheme
Applications opened on 12 May 2020 and can now be submitted up to and including 31 December 2023.
Small to medium businesses and organisations, including sole traders and the self-employed, not-for-profit organisations, partnerships, joint ventures and trusts, may be eligible for a loan with a term of 5 years if they meet the eligibility criteria.
- Have less than 50 full time equivalent employees
- Been in business for six months prior to application
- At least a 30 percent decline in revenue measured over a 14-day period in the six months before applying compared with the same 14-day period of a year ago
- Be a viable business
Eligible businesses and organisations which submit an application for a loan and meet the eligibility criteria may be entitled to a loan. The maximum amount loaned is $10,000 plus $1,800 per full-time-equivalent employee.
