Financial Relief for Businesses Amidst COVID-19

As the nationwide lockdown continues and a lot is still unknown, this is proving to be a difficult time for many businesses throughout New Zealand. However, the Government is rallying to help businesses to say afloat.

Below is a list of relief programs and initiatives that businesses may be able to utilise to weather the storm:

  1. COVID-19 Wage Subsidy August 2021 – Work and Income
  2. COVID-19 Resurgence Support Payment (RSP) (ird.govt.nz)
  3. COVID-19 Small Business Cashflow Scheme (SBCS)

Also available are the:

Covid-19 Leave Support Scheme (LSS) – which is designed to help businesses pay workers who have been told to self-isolate and can’t work from home; and

COVID-19 Short-Term Absence Payment (STAP) – for workers who have to stay at home while waiting for a Covid-19 test result and can’t work from home.

The devil, as always, is in the detail. In particular with the Wage Subsidy, businesses need to make a statutory declaration, agreeing to a range of obligations, which can be fairly onerous. It is critical that employers are able to meet these obligations, otherwise it would not be advisable to sign the declaration.

Talk to us

If you need advice on whether your business is eligible for any of the above mentioned programs get in touch with the team at Pitt & Moore and ask for Geoff Caradus or Nick Mason. We are here to help if you need our assistance!

Disclaimer: The information contained in this publication is of a general nature and is not intended as legal advice. It is important that you seek legal advice that is specific to your circumstances.

Topics: All Select

Nick Mason

Position: Partner
Email: nick.mason@pittandmoore.co.nz
DDI: +64 3 545 7897