The New Zealand Government has released an economic response package to help cushion the impact of COVID-19 and support the economy during the COVID-19 crisis.
The package includes:
Wage subsidy scheme
Leave and self-isolation support
Determine your eligibility and making your application with the fact sheet HERE
Taking your time now to get it right will ensure you receive all the support you’re entitled to.
Wage subsidy scheme
Wage subsidies will be available for all businesses significantly impacted by COVID-19 including:
employers that are struggling to retain employees
sole traders
self-employed
new and existing businesses.
Wage subsidies will be available for businesses in all sectors and regions that can show a 30% decline in revenue for any month between January and June 2020 compared to the year before (including projected revenue).
The subsidy will be:
$585.80 per week for a full-time employee (20 hrs or more)
$350.00 per week for a part-time employee (less than 20 hrs).
The payment will be made as a lump sum for a period covering 12 weeks. This means employers will receive a payment of $7,029.60 for a full time employee and $4,200 for a part time employee. The maximum amount any one employer can receive is $150,000.
More information on who qualifies for the wage subsidy, definitions for wage subsidy qualifications, and how to apply, can be found from Work and Income. You may also need a New Zealand Business Number (NZBN) to apply.
Leave and self-isolation support
Workers and businesses have responsibilities to prevent the spread of COVID-19. The purpose of the COVID-19 leave and self-isolation scheme is to support workers financially to self-isolate, or while ill with COVID-19, where this is required so that all businesses and workers can do the right thing.
From 17 March 2020, the COVID-19 leave payment will be available to support people financially if they:
need to self-isolate
can’t work because they are sick with COVID-19
can’t work because they are caring for dependents who are required to self-isolate or who are sick with COVID-19.
The payments will be:
$585.80 per week for a full-time worker
$350 per week for a part-time worker.
The COVID-19 leave payment will be available for eight weeks from 17 March 2020. Employers will be able to apply for this more than once.
More information on who qualifies for the leave payment, and how to apply, can be found from Work and Income. You may also need a New Zealand Business Number (NZBN) to apply.
Application Process:
