The government has proposed a package to support businesses and individuals, in the event of Alert Level escalations due to resurgence of COVID-19. This support will be available late February or early March 2021 if the necessary legislation has passed.
Firms must have been in business for at least six months in order to apply and declare a 30% drop in revenue over a 14-day period as a result from increasing alert levels.
The one off payment will be $1500 plus a $400 payment per employee up to a total of 50 full time employees.
Alert Level 2 or above: Directly impacted businesses will be able to apply for a one-off Resurgence Support Payment. This should help cover fixed costs such as rent and will be administered by Inland Revenue.
Alert Level 3 or above: The most affected firms can also seek the COVID-19 Wage Subsidy to help keep their staff employed.
Alert Level 4: Other support measures such as childcare for essential workers, freezes on residential rent increases will further help firms and households.
Short-term Absence Payment: This payment will allow eligible employers to support eligible workers who stay home while awaiting COVID-19 test results. This is also available to eligible self-employed workers.
Small Business Cash Flow Scheme: Firms can still access this scheme for additional cash flow support, more info here: https://www.ebp.co.nz/changes-to-small-business-cashflow-loan/
We will keep you up to date about any new developments.
