Resurgence Payment Update

As Auckland remains in level 3, our staff are still working remotely from home, so email remains the best option to get in contact, however, our office number is still functional if you have any questions (09 869 2200).

If you are yet to get your Annuals information into us, we would ideally like to receive the files electronically, we are unable to accept files through 3rd parties intermediaries such as DropBox and Google Docs for security reasons, so directly via email is preferred (you can ZIP and compress the file).

If you only have hard copies of your records, we can arrange a contactless drop off at a designated time. These are by appointment only so please contact info@taelsolutions.co.nz to arrange.

COVID-19 Resurgence Support Payment

The Government has announced an increase to the Resurgence Support Payment as we transition to the new COVID-19 Protection Framework.

The COVID-19 Resurgence Support Payment helps to cover wages and fixed costs for businesses who have been directly affected when there is an increase to Alert Level 2 or higher for a week or more.

To be eligible, your business must have experienced at least a 30% drop in revenue or a 30% decline in capital-raising ability over a 7-day period, due to an increase in Alert Levels.

From 12 November 2021, the Resurgence Support Payment will be paid fortnightly.

• Businesses can receive $3000 per business plus $800 per full-time employee (FTE), up to 50 FTE.
• The maximum fortnightly payment is $43,000.
• If you are self employed, or a sole trader you can receive a payment of $3,800.
• The eligibility criteria remains the same.

Businesses anywhere in New Zealand can apply if they meet the eligibility criteria.

You can apply for both the COVID-19 Resurgence Support Payment and the COVID-19 Wage Subsidy Scheme if you meet all the eligible criteria.

Applications for a third round of the Resurgence Support Payment are now open. The payment and eligibility criteria are the same as the current scheme. You can receive all three payments if you are eligible for them.

Wage Subsidy Scheme

Applications for the fifth round of the August 2021 Wage Subsidy are now open. You can apply until 11:59pm 28 October 2021. The payment rates and eligibility criteria remain the same.

Businesses and self-employed people must expect a 40% drop in revenue to be eligible to receive the wage subsidy.

The wage subsidy is paid in a 2 week lump sum. You can get:

• $600 per week for each full-time employee
• $359 per week for each part-time employee

You cannot get the Wage Subsidy August 2021, Leave Support Scheme and Short-Term Absence Payment for the same employee at the same time.

The Wage Subsidy will continue to be available to businesses anywhere in New Zealand while any part of the country is in Alert Levels 3 or 4.

Extension of GST return due date

The IRD's MyIR and Secure Online Services are currently unavailable until Thursday 28 October 2021 while they make system changes. In the meantime, you can still pay your bill through your bank as you normally would.

IRD have agreed that businesses and individuals will have more time to file and pay their GST and Provisional Tax that is currently due on October 28th due to the system closure.

One, two and six-monthly GST returns and payments for the taxable period ending 30 September including provisional tax instalments, can now be filed and paid up to 4th November.

If you have any questions or concerns for us, please don’t hesitate to get in touch with us.

From

THE TAEL SOLUTIONS TEAM