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Author: Claire Bryant

Government Support Available

October 28

On Friday 22 October 2021 the Government announced their refreshed approach to support businesses as the ongoing effects of the current COVID-19 outbreak continue.

Below we have summarised the key takeaways for you.

Resurgence Support Payment
The Minister of Finance confirmed that the Resurgence Support Payment (RSP) will be increased in amount and frequency while New Zealand continues to operate under its current alert level system.

From 12 November 2021, the RSP will be paid fortnightly to qualifying businesses at the rate of $3,000 plus $800 per full-time equivalent (FTE) employee, up to a maximum of 50 FTEs; meaning the maximum fortnightly payment will be $43,000.
Find out more here.

Wage Subsidy
The Wage Subsidy Scheme (WSS) will remain available so long as any part of New Zealand is at Alert Level 3 or higher. The Wage Subsidy August 2021 payments support employers to continue to pay employees and protect jobs for businesses affected by a change in COVID-19 alert levels.
Find out more here.

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.
Find out more here.

Short-Term Absence Payment 
The COVID-19 Short-Term Absence Payment is available for businesses, including self-employed people, to help pay their employees who cannot work from home while they wait for a COVID-19 test result.
Find out more here.

Small Business Cashflow Loan 
Businesses with 50 or fewer employees can be eligible to apply for a Small Business Cashflow Loan. This scheme, administered by Inland Revenue, allows certain businesses to apply for a loan of up to $100,000. The maximum value of the loan available is $10,000 plus $1,800 per full-time equivalent employee. Loans are interest-free for a period of up to two years (if fully repaid in that time).
Find out more here.

Auckland Businesses
Ministers announced a $60 million package for business advice and mental health support that will be made available to help Auckland businesses through this transition period. As more information becomes available from the Government and Regional Business Partners, we will be in contact with you. This will likely be within the next week.

If you have any questions at all about the above, please contact us.

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