Wage Subsidy Extension Update
On 14 May 2020 the government announced that the Wage Subsidy Scheme would be extended. The Wage Subsidy Extension payments will be available from 10 June 2020 until 1 September 2020.
The eligibility criteria for the Wage Subsidy Extension changed on 5 June 2020.
The updated criteria is now as follows:
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- You need to show an actual or projected revenue loss of at least 40% for a continuous period of 30 days, compared to the closest period in 2019; and
- This 30-day period must be within the 40 days prior to your application (but no earlier than 10 May 2020) and must be compared to the closest period last year;
- Key information
- Your obligations under the COVID-19 Wage Subsidy Scheme will continue to apply and you must make another declaration that you will comply with these obligations;
- You cannot apply for an extension until the relevant employee’s original 12-week Wage Subsidy period has finished.
The Extension will cover a further 8 weeks of remuneration at the same rates as the original wage subsidy.
For more information about the extended COVID-19 Wage Subsidy Scheme see: https://www.workandincome.govt.nz/covid-19/wage-subsidy-extension/index.html