Finance Minister Grant Robertson has announced that businesses will only have to be one month old, rather than having been set up at least six months ago, to claim COVID resurgence support payments.
The scheme lets businesses claim a one-off payment of $1500, plus $400 per employee, capped at a maximum payment of $21,500, if they experience a 30 percent drop in revenues over a week, as a result of COVID Alert Level restrictions.
Robertson said the Government had decided to amend eligibility for COVID resurgence support payments after agreeing with businesses and MPs that the existing rules were too restrictive. As of Thursday, Inland Revenue had approved more than 147,000 applications for the support totalling $454 million, he said.
Wage subsidies remain the main tool that the Government is using to support businesses and any employees they might otherwise make redundant. So far, 242,600 applications worth $998m had been approved under that scheme, Robertson said.
“We will continue to monitor and assess the support that is available for businesses and workers to help them through these uncertain and volatile times.”