Wages Subsidy

Purpose

To help keep staff employed while you consider changes that may be needed while disruption continues and to ensure future viability of your business.

Requirements:

• Applies to employers, contractor, sole trader and self-employed. (Shareholder-employees covered as employees.)
• Business must have experienced at least a 30% decline in actual or predicted revenue over period of 1 month when compared with same month last year AND decline is related to COVID-19.
• Must take active steps to mitigate the impact of COVID-19.
• Must retain employees and pay them at least 80% of their normal income for subsidised period.

How much;

• $585.80 for people 20hrs per week or more
• $350.00 for people working less than 20
• Not subject to GST (legislation being passed to this effect)
• Subsidy paid as a lump sum and covers 12 weeks per employee.
• This is a once only payment.

How to apply:

• https://www.workandincome.govt.nz/products/a-z-benefits/covid-19-support.html#null
• Will need your NZBN
  • Companies can find this on the Companies office Website https://companies-register.companiesoffice.govt.nz/
  • Partnerships and sole traders will need to apply through the NZBN website. https://www.nzbn.govt.nz/.
• A list of employee names and IRD numbers that you are claiming for. And whether they normally work more or less than 20 hours per week.

Should you require assistance, please contact Dale dale.adamson@pkffa.co.nz or phone 027 4089366.