New Zealand Government's New Wage Subsidy Scheme
19 August 2020
Finance Minister Grant Robertson has just announced the Resurgence Wage Subsidy scheme, which will extend Government support for businesses through until 10 September 2020.
Here’s what you need to know:
Who Qualifies for the Scheme?
The Resurgence Wage Subsidy scheme is open to employers throughout New Zealand, and will pay out for 14-days for all businesses who meet the eligibility criteria.
Businesses must have, or are expecting to have, a revenue decline of at least 40 per cent, for any 14 day period between 12 August to 10 September 2020, when compared to a similar period last year. As with the previous wage subsidy support packages, that decline must be related to COVID-19.
When can I apply?
Applications will open on 1pm on 21 August 2020 and remain open until 3 September 2020.
You cannot apply for the Resurgence Wage Subsidy if you are already receiving payments from the Wage Subsidy, Wage Subsidy Extension or Leave Support Scheme.
What could I get?
The subsidy will pay out for 2-weeks from the day you submit your application, at a flat rate of:
Please get in touch with your local BDO Adviser if you require further assistance.