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In mid-December 2020, the Government announced the availability of the Wage Subsidy Scheme if New Zealand Alert Levels escalate again. The wage subsidy scheme has previously proven to be a very successful for ensuring the retention and payment of employees, and ongoing business viability.
In mid-December 2020, the Government announced the introduction of a new financial support package for COVID-19 affected employers and self-employed persons, known as the COVID-19 Resurgence Support Payment.
On 17 August 2020, Finance Minister Grant Robertson announced the COVID-19 Resurgence Wage Subsidy, a targeted extension to the original COVID-19 Wage Subsidy Scheme. This will see a further $1.6 billion of funding provided to help employers through these difficult times.The extension provides an...
We answer all of your burning questions on Wage Subsidy in relation to COVID-19
On 14 May 2020 the Government announced a targeted extension to the COVID-19 Wage Subsidy Scheme, which will see a further $3.2 billion of funding provided to help employers through these difficult times.The extension provides an additional 8 weeks of payments to employers and self-employed...
Finance Minister Grant Robertson has just announced the Resurgence Wage Subsidy scheme, which will extend Government support for businesses through until 10 September 2020.
This article aims to provide guidance around how the COVID-19 Wage Subsidy can be practically recorded in your business’s accounting system.
Understand how the COVID-19 Government Wage Subsidy should be returned and treated for tax purposes in the hands of an employer.
This article aims to provide guidance around how the COVID-19 Wage Subsidy can be practically recorded in your accounting system.If you have never done journals in Xero before, or set up new Chart of Account codes, then we recommend you contact your local BDO advisor before going through this...