New support payments for lockdown-hit businesses.
New ‘Resurgence Support Payments’ for businesses effected by Covid-19 lockdown disruptions are being rolled-out by the Government.
Since the business support scheme was announced in 2020 the Government have decided to make some welcome changes to eligibility – including reducing the time which a revenue drop is assessed from 14 days to seven.
Grant Robertson says, “We acknowledge the concerns of the business community about Alert Level rises and have made this change as we want to get money out the door quickly to affected businesses.”
“Government payment and financial support schemes recognise that some businesses face one-off costs or impacts to cashflow when we step up an Alert Level to follow public health advice. The payments are structured to provide the most support to smaller firms who are most likely to face cash flow issues but will be available to all businesses and sole traders”.
Use the Covid-19 Support tool to check your business entitlements.
Please note that Cleaver Partners can act as your TAX AGENT in claiming business financial support subsidies. Contact us
Here’s some important support packages available to business:
A new Short-Term Absence Payment to cover eligible workers needing to stay at home while awaiting a Covid-19 test result. This is a one-off payment of $350 to employers to pay workers who need to stay home while awaiting a test or while someone who is their dependent is doing so, in accordance with public health advice. Ask us
The Leave Support Scheme helps businesses to help pay workers (including self-employed) told to self-isolate because of COVID-19. It’s paid as a lump sum and covers two weeks per eligible employee at the rates of $585.80 for each employee working 20 hours or more a week and $350 for each employee working less than 20 hours a week. Ask us
The Business Finance Guarantee Scheme provides a term loan or revolving credit facility to support business cashflow or capital investments to help respond to Covid-19 impacts. The scheme allows major trading banks (and non-banks) to ‘lend’, where otherwise they may not; by the Government taking up 80% of the loans default risk. Loans up to $5m are being offered. Ask us
The Wage Subsidy Scheme will be available nationally when there’s a regional or national move to Alert Levels three and four for a period of seven days. Details and rollout are still being processed by Government. Ask us
Nāku noa, nā, Yours Sincerely,
Cleaver Partners
