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LETS GET DOWN TO BUSINESS.

Question :
Hey there, im a new small business, do you know if I would be eligible for the wage subsidy? I have 2 staff and 1 starting on 16th august. I own a hair salon and have to close and I have no income coming in? how will I pay them for these 3 days and if the lockdown is extended ? my email is amymartin415

Question submitted 13/08/20 @ 02:59pm
Industry: COVID-19 Funding & Support
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  • Amy
    You should qualify for the wage subsidy ($585.80 per full time (20 hrs a week plus) employee, including you, per week for 8 weeks from the date of application) if your revenue in 30 of the 40 days prior to your application is at least 40% less than the period (or a similar period) in the prior year. I’d be happy to discuss your position (Claire@vcfo.co.nz) and an application can be made at the following web address.

    https://www.workandincome.govt.nz/covid-19/wage-subsidy-extension/index.html

    Bear in mind, by making an application you are undertaking to continue employing the staff included in your application for the 8 week period at a minimum of 80% of their usual salary.

    Applications close 1 September so as soon as you have your information ready you should make an application.

    There may be more assistance for Auckland if the lockdown lasts beyond Friday so keep your eyes open for media releases.

    Claire

    Hi Amy, as a new business, without prior year comparables, you can determine whether your business has met the 40% decline in revenue assessment for the wage subsidy by comparing your ‘current’ 30 day period against an earlier 30 day period that gives the best estimation of revenue decline related to COVID-19. eg you may look to apply on 31 August and compare revenue for the 30 days to 30 August against revenue for the 30 days to 30 July. That said, following today’s announcement, you may want to wait until further details are released in the new week on an extension to the wage subsidy arrangements. Best wishes.

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