Unfortunately, we are unable to make any applications for you. You are the best placed person to apply as you know your business better than anyone else.
The lockdown announced 17 August 2021 has triggered three of the government's existing policies - Resurgence Support Payment, the Covid Wage Subsidy, and the COVID-19 Leave Support Scheme. The terms 'employee' and 'business' below include sole traders and shareholder-employees.
- To be paid as a lump sum
- Can be used for general operating costs
- The amount is to be the lower of:
- $1,500 plus $400 per full-time equivalent employee (up to 50 FTEs), or
- Four times the actual revenue decline experienced by the business
- To be paid as a two-week lump sum
- Can only be used for wages, not general operating costs
- $600 per week for each full-time employees
- $359 per week for each part-time employee
- $585.80 per week for full-time employees
- $350.00 per week for part-time employees
Short-Term Absence Payment (STAP) and the Small Business Cashflow Scheme (SBCS)
These policies remain in place and can be accessed at any time if eligible.
STAP is where employees (including sole traders and shareholder-employees) cannot work from home while waiting for Covid test results. Applications are made via Work and Income.
The SBCS is a loan obtained via Inland Revenue with a low interest rate. If you repay the loan within two years, you won't be charged interest. More information can be found on our website here, and applications can be made in this section of the IRD's website.
Accounting for government assistance in Xero
Please refer to our full blog here.