My business applied for the original wage subsidy when applications first opened, and my 12-week payment will expire on 9 June 2020.
I am going to apply for the wage subsidy extension on 10th June 2020 when the applications open.
As the revenue decline needs to be for a continuous 30-day period, but can’t be before 10 May 2020, I will need to use my financial results for 10 May 2020 to 9 June 2020 in my application.
My financial results for this period have not been prepared yet, but I am confident I have a 40% drop in revenue.
I will be sure to check my financial results and confirm the reduction has actually occurred as soon as this information is available to me.
The financial results will be compared to the closest period last year but could be a day or two off because of weekends or public holidays.
I will keep evidence of the 40% drop in revenue, as well as the active steps I have taken to mitigate the impact of COVID-19, should these records be required by MSD in the event of an audit.
I am aware that if the 40% revenue drop does not occur, I would not have been eligible to receive the wage subsidy extension payment, and may be required to repay the funds back to MSD.
Once I have applied for the wage subsidy extension, I will retain all of the employees for whom I have applied and make my best endeavours to pay them 80% or more of their normal wages.
I will always act in good faith to my employees and abide by any other requirements of the wage subsidy extension set out to me (likely by way of a declaration when you apply for the wage subsidy extension).