Crisis! Covid-19

The Wage Subsidy Extension will be available from 10 June 2020 until 1 September 2020 so employers can keep paying their employees.

You must have had, or expect to have, a revenue loss of at least 40% for the 30 days since 10th May 2020, before you apply, compared to the closest period last year.
It will cover 8 weeks per employee from the date you submit your application.
It will be paid to you as a lump sum at the same weekly rate as the Wage Subsidy.
You’ll need to agree to certain obligations, such as to:
- pass the subsidy on to your employees
- retain your employees for the duration of the subsidy
- do your best to pay your employees at least 80% of their normal pay
- take active steps to mitigate the impact of COVID-19 on your business.

You may be able to apply for the Income Relief Payment. The rate is $490/wk works >= 30hr/wk, $250/wk works 15-29hr/wk

lost your last job or self-employment from 1 March 2020 to 30 October 2020 (inclusive) because of the impacts of COVID-19, and
normally worked 15 hours or more a week (for 12 weeks or more) before you lost your work because of COVID-19.
a New Zealand citizen or a resident who normally works and lives in New Zealand, and
18 years old or over, or a financially independent 16- or 17-year-old.
If you were self employed, you may be able to get the Income Relief Payment if: your business is no longer viable, with no upcoming work or income, because of COVID-19

get a redundancy payment of $30,000 or more, before tax
get or used to get private income protection insurance payments for the job you lost
are getting earnings-related ACC payments
left your job for another reason – for example, you resigned, retired, wound up a viable business or were dismissed (eg. for misconduct)
still have a job.
if you have a partner earning $2,000 or more in wages or salary each week, before tax.
You can’t get the Income Relief Payment and COVID-19 Wage Subsidy or Leave Support payments at the same time.

Loss of revenue criteria changed 5 June

The Government announced a change in criteria from a 50% revenue drop to a 40% revenue drop.
Business must have had a revenue loss of at least 40% since 10th May 2020, compare wot the closest period last year.