Businesses, organisations and self-employed people affected by the recent increase to Alert Level 4 can now apply online for the COVID-19 Resurgence Support Payment (RSP).
“The RSP is intended to help businesses with costs like rent or fixed costs during higher alert levels and is one of a suite of measures to support firms and workers and provide certainty,” Grant Robertson said.
“To qualify for the RSP, applicants must experience at least a 30 percent decline in revenue over seven days as a result of the increase in Alert Levels, as well as other eligibility criteria.
“The one-off payment is available to any business in New Zealand that meets the criteria. Businesses can apply for the RSP at the same time as the Wage Subsidy Scheme.”
The payment includes a core per business rate of $1,500, plus $400 per employee, up to a total of 50 full-time equivalents (FTEs) which is a maximum payment of $21,500. Businesses with more than 50 FTEs can still apply but cannot get more than the maximum payment. The scheme will be available until all of New Zealand returns to Alert Level 1 for one month.
“The Small Business Cashflow Scheme (SBCS) is also available to support small to medium businesses and organisations struggling with a loss of actual revenue due to COVID-19 where a business hasn’t accessed this before or where the initial payment has been repaid,” Minister of Revenue David Parker said.
Inland Revenue encourages those applying to ensure the accuracy of the information they provide, as if it isn’t correct that will delay processing.
Businesses can also apply for the Wage Subsidy Scheme and the COVID-19 Leave Support Scheme (LSS), which is available to help businesses pay workers who have been told to self-isolate and can’t work from home. The COVID-19 Short-Term Absence Payment (STAP) is also available if your workers have to stay at home while waiting for a COVID-19 test result and can’t work from home. The rates for both the LSS and STAP rise today in line with the Wage Subsidy increase.
“Economic activity is back to pre-COVID levels thanks to our strong public health response. These principles will continue to guide our approach to supporting the economy at this challenging time,” Grant Robertson said.
Businesses can apply for the payment by logging into their MyIR account. Further information can be found on the Inland Revenue website.
For more information on COVID-19 business support measures, including full eligibility criteria:
https://www.ird.govt.nz/covid-19/business-and-organisations/sbcs
https://www.workandincome.govt.nz/covid-19/wage-subsidy/index.html
SOURCE: BEEHIVE
