COVID-19: Financial Support for Business
COVID-19 / 03 March 2021
There is still some funding available through the Regional Business Partners Support scheme although demand has been high across the country and some regions have now exhausted their allocations for the COVID-19 Business Advisory funding. The Government has allocated additional funding to support tourism businesses through the COVID-19 pandemic. The Tourism Transitions Fund has been provided to enable tourism businesses to access expert advice and support with managing HR, health and wellbeing, business continuity and hibernation, cashflow and finance management, strategy and digital capability. As a registered provider for both schemes, we can assist here.
New Wage Subsidy announced
A new nationwide wage subsidy is now available for businesses and self-employed people. Applications are open from 1pm on Thursday 4 March 2021, with payments starting Monday 8 March 2021.
The Short Term Absence payment is a one-off payment of $350 available for businesses and self-employed people to help pay employees who cannot work from home and are self-isolating while they or their dependents wait for results of a COVID-19 test.
The Leave Support Scheme is available for those who have been instructed to self-isolate, or are a parent or caregiver of a dependent who has been instructed to self-isolate. It is a lump sum payment covering 14-days for each employee, paid at a rate of $1,176.60 for those working 20 hours or more a week, and $700 for those working less than 20 hours a week.
The Resurgence Support Payment is available nationwide for businesses facing a reduction in income due to an alert level increase. It is paid at the lesser of: $1,500 plus $400 per full-time equivalent employee, up to a maximum of 50 employees, or four times the actual revenue drop experienced by the business.
Message for Employers
We are always available to provide support and guidance for businesses affected by COVID-19, including advising on staff payment and leave during different alert levels. Please contact our team for help.
Disclaimer: We remind you that while this article provides commentary on employment law and health and safety topics, it should not be used as a substitute for legal or professional advice for specific situations. Please seek legal advice from your lawyer for any questions specific to your workplace.