Articles by Anthony Strevens
Following the latest changes in alert levels in Auckland and across the country, there are now new government support packages available. These are on top of the support that is already in place such as the Business Finance Guarantee Scheme and Small Business Cash Flow Loan Scheme.
The wages subsidy is back again in a similar format to the previous wages subsidies from 2020. It is designed to help employers and self-employed people to continue to pay employees and protect jobs for businesses that have been affected by the changes in alert levels on 28th February.
To be eligible, your business needs to have suffered a 40% decline in revenue over any 14-day period between 28th February and 21st March 2021 when compared with a ‘typical’ 14-day period between 4th January and 14th February 2021. This subsidy is available to the whole country.
Just like the last payment, there are two different rates depending on whether an employee works more than or less than 20 hours per week. Currently it will be paid for two weeks; however, we’d assume this might change depending on alert level changes in the coming weeks.
You can’t get this subsidy for an employee who is covered by the Leave Support Scheme or Short-Term Absence Payment (see below).
You can apply through the Work and Income website from 4th March and payments start on 8th March.
Resurgence Support Payments
There are now two resurgence support payments available. One for the 14th February alert level increase and one for the 28th February alert level increase.
To be eligible for the payment, your business must have experienced at least a 30% drop in revenue or capital-raising ability over a 7-day period after the increased alert level, and meet other criteria. These payments are available to the whole country.
Eligible businesses can apply to receive the lesser of:
• $1,500 plus $400 per full-time equivalent (FTE) employee, up to a maximum of 50 FTEs; or
• Four times (4x) the actual revenue drop experienced by the business.
Businesses and organisations can apply for the payment each time it is activated, as long as they meet the eligibility criteria.
Applications are open for one month after the return to Alert Level 1 and are made through Inland Revenue via your myIR online account.
Short Term Absence Payment
This is a relatively small payment of $350 per employee to help cover their wages if they need to be tested for Covid-19 and then self-isolate while they await the test results and they cannot work from home. Applications can be made via the Work and Income website.
Leave Support Scheme
If your employee has to self-isolate as a result of being a close contact or being given medical advice to do so and they cannot work from home, then this scheme assists with a lump sum payment which assists for up to a two-week period. Applications can be made via the Work and Income website.
If you have any questions about these payments and schemes or need support in applying, please contact your Client Services Manager at GRA for further assistance: Phone +64 9 522 7955, [email protected] or via our website.
Hi Salesh, I just wanted to send you an email on behalf of GRA to say how fantastic we have found your company to date. As you know, Ben and I joined GRA a couple of months ago and have just found you so amazingly helpful in getting our new property set up correctly and sorted out. We have what I would consider a rather complicated structure as a result and it’s a fantastic feeling to know that we are getting everything done in the best way possible. We have just had approval to put a minor dwelling on the property which will make a massive difference in terms of cash flow and obviously value, something we would never have even thought of without GRA and which we are very excited about. During the buying process we attended a seminar with Matthew and from the outset thought he was fab. We therein signed up for property school and found this nothing short of fantastic. The content was relevant, up to date and comprehensive, but more importantly it was taught in a way that we could actually understand and really get value out of. I wanted to mention also, that everybody GRA have recommended to us has been just so efficient and absolute masters at what they do. A wonderful network of people that we feel very lucky to now be able to call on. From Kris Pederson and Bryan Rist who put our mortgage together to the insurance guys they then referred us to, I’m super impressed. Within GRA, Ellery has probably turned things around for us faster than I’ve ever known before, something which we appreciated so very much when it came to crunch time. She’s always a pleasure to deal with and again, we’re stoked. We’ve just settled on the property today and are about to go and get the keys. I’m pretty pumped and hence this email is probably rather excitable. So, a massive thank you to you Salesh, the partners for such a fabulous 6 weeks at property school and everyone at GRA for their help. May this be the start of our property empire. Thanks again, - A & B - July 2015
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