The Small Business Cashflow (loan) Scheme has been extended until the end of 2020. Applications opened on 12 May 2020 and can now be submitted up to and including 31 December 2020. You can find out more information below.
The Government’s Unite Against COVID-19 website here continues to be the up to date source for all information on financial support for businesses.
The Government has also created a helpful tool – COVID-19 Financial Support Tool – for you to work through what financial support might be available from the Government for you.
We have updated the below q and a to reflect some of the changes as a result of the COVID-19 Response (Further Management Measures) Legislation Bill which was passed into law on 15 May 2020, introducing a wide range of measures to support businesses and other entities through the pandemic. A summary of these changes can be found here.
Read more about some of the recent changes below:
- Small Business Cashflow (loan) Scheme: The Small Business Cashflow Scheme has been extended until 31 December 2020. Applications opened on 12 May 2020 and can now be submitted up to and including 31 December 2020. You can find out more information about this here.
Border Exceptions for ‘Other critical worker’: Employers can request to bring critical workers into New Zealand while the border is closed on the basis of them being ‘other critical workers’ (this group was previously called ‘essential workers’). The criteria are very specific and the threshold will be extremely high. Our initial view is that vintage roles such as vintage cellarhand will not meet the criteria. It is possible a winemaker may meet the criteria, or technician for specialist equipment such as wine presses. You can find the information on the criteria and process to apply here.
Financial help for foreign nationals on temporary visas stranded in New Zealand: The Government has announced The Assistance for Foreign Nationals impacted by COVID-19 Programme which will provide temporary, in-kind assistance to eligible people to help meet basic needs such as food and accommodation.
- Wage Subsidy Extension and criteria amendment: A Wage Subsidy Extension payment will be available to support employers, including sole traders, who are still significantly impacted by COVID-19 after the original Wage Subsidy ends. The Wage Subsidy Extension will be available from 10 June 2020 until 1 September 2020 so employers can keep paying their employees. Applications opened from 10 June 2020. In addition, the Government reduced the threshold for revenue loss to apply for the Wage Subsidy Extension from 50% to 40%, meaning you must have had a revenue loss of at least 40% for a continues 30 day period. You can find out more information about this here.
While NZW is not able to provide employment advice, we can help seek answers to any queries you may have on the scheme from government. Please email these to email@example.com
The below Q&As include some information about different kinds of relief and support offered by Customs, IRD and Work and Income in these circumstances.
Please note that excise entries must still be lodged in the usual timeframes, as this is a legal requirement. It is important that if you have any difficulty making payment that you still lodge an entry as that will support Customs to assess payment options. Please contact your local excise officer at the earliest opportunity if you will have difficulty lodging your entry.