COVID-19 Financial Support

COVID-19 FINANCIAL SUPPORT:

Now that we have moved into the COVID Protection Framework (traffic light system) there are still some COVID-19 support options available to financially affected businesses. 

Hawkes Bay may see an increase in COVID cases, testing and the potential need for self-isolation.  This could have a major impact on your business and your ability to continue trading temporarily.  The Government have recently announced that there will be no further wage subsidies, so the Short-Term Absence Payment and Leave Support Schemes may be an option if you find yourself with employees who need to isolate. 

Short-term Absence Payment and Leave Support Schemes:

The Short-term Absence Payment and Leave Support Schemes remain available to help pay employees who are required to stay home to await test results or are required to self-isolate, where those employees are unable to work from home. The Leave Support Scheme is now paid weekly, and applications can be made at  https://www.workandincome.govt.nz/

Small-Business Cashflow (Loan) Scheme:

Applications for the Small-Business Cashflow (Loan) scheme remain open until 31 December 2023.

Transition Payment:

If you are a business operating in Auckland, Waikato and Northland, the Government recently introduced a one-off Transition Payment to acknowledge the impact that restrictions have had on financial wellbeing.  This payment operates in the same way as the Resurgence Support Payment, with the same criteria. Businesses and organisations with reduced income between 3 October and 9 November may be eligible. Applications opened from 10 December in myIR at www.ird.govt.nz 

 Resurgence Support Payments:

There are three Resurgence Support Payments currently open for applications. In each case a business or organisation must show reduction in income in a consecutive seven-day period within the 'affected revenue period'. The income during this seven-days must be at least 30% lower than a normal seven-days of income during the six weeks prior to 17 August. People can apply through myIR at www.ird.govt.nz.

From December 10, these three RSP payments and the Transition Payment will become available to businesses that have changed ownership on or after July 18. The business must be carrying on the same or similar activity as before the change in ownership.

There are no more Resurgence Support Payments planned.

Help with paying your tax

Inland Revenue may be able to help businesses  with penalty and interest remission if they can’t pay their tax on time or in full because of COVID-19. If cashflow is an issue at the moment, please contact us and we can help you apply and negotiate the best tax relief for your business.  Alternatively, you can contact Inland Revenue directly through myIR.