Transitional Payment

As we move into the COVID-19 Protection Framework, (traffic light system), the government have announced a new support payment will be made available for businesses impacted by the August Covid-19 lockdown, to help them transition into the new system. 

Called the Transition Payment, this support payment is a one-off payment of $4,000 plus $400 per full time equivalent employee (FTE), up to a maximum of 50 FTE and $24,000.  Applications will open on 10 December 2021 and can be made through MyIR.  Applications will close on 13 January 2022. 

To be eligible a business will need to show a drop in revenue of 30% for a 7 day period between 3 October 2021 and 9 November 2021 compared to a typical 7 day period in the 6 weeks prior to 17 August 2021.  The decline in income needs to have been as a result of the impact of Covid-19 on your business. 

This payment is not a loan and will not need to be paid back, provided that the eligibility criteria have been met. 

 

Resurgence Support Payments

Applications for the Resurgence Support Payments are still open.  There are 6 payments available, however the final date to apply for the first 3 rounds is 1 December 2021.  Details are as follows:

Period

Amount

Final day to apply

17 Aug to 1 Nov 2021

Up to $1,500 + $400 per FTE

1 December 2021

8 Sep to 1 Nov 2021

Up to $1,500 + $400 per FTE

1 December 2021

1 Oct to 1 Nov 2021

Up to $1,500 + $400 per FTE

1 December 2021

22 Oct to 1 Dec 2021

Up to $1,500 + $400 per FTE

13 January 2022

5 Nov to 1 Dec 2021

Up to $3,000 + $800 per FTE

13 January 2022

19 Nov to 1 Dec 2021

Up to $3,000 + $800 per FTE

13 January 2022

 

Wage Subsidy

Applications for the 8th and final wage subsidy are currently open and will close on 9 December 2021.  There are no plans for any further wage subsidies to be made available.  Applications can be made through MSD. 

 

If you have any questions or need any help with the above, please do not hesitate to be in touch with the team at Stewart & Co.