COVID-19: Support for businesses

The past months have been a testing time for many of you as you adapt your business and family life through changing circumstances and restrictions.

This page will be kept up to date with the latest information on our operations and the COVID-19 support available for businesses.

Russell, Rodney, Fono and the Robertson Bixley team are here to support you and your business through this time so please get in touch with your Robertson Bixley advisor or email reception@robbix.co.nz if you require any assistance or have any queries.

The Robertson Bixley team is fully vaccinated and our office is open for anyone.

You can still connect with us remotely via Zoom or outdoor meetings if you prefer. For step by step zoom instructions click here.

COVID Support Payment

What is it?

This is a $4000 payment per business plus $400 per full-time employee, capped at 50 FTEs or $24,000, the same rate as the most recent Transition Payment.  At this stage, the payment will be available on a fortnightly basis over a 6-week period (3 payments in total).

Who can get it?

The eligibility criteria require businesses to show a 40 percent drop in income over a 7-day period in the 6 weeks prior to the 15 February 2022.

How to apply

You need to apply through the Inland Revenue Department (IRD) via your MyIR login.  Applications can be made from 28 February 2022, with payments starting from 1 March 2022.

Tax payment relief

Inland Revenue continues to offer flexibility regarding tax payment dates where an otherwise viable business is impacted by the pandemic.

It can help with GST and provisional tax due if your business is struggling due to the impacts of the Covid-19 response.  Log on to myIR to see:

• If you can delay starting payments to a later date.
• If any part of the tax could be written off.

In addition, Inland Revenue has the ability to write off penalties and interest charged for late returns and payments if the only reason for the lateness is pandemic related.  This can include cash flow impacts resulting from government restrictions.

Small Business Cashflow Loan Scheme

As you will likely know, the government’s Small Business Cashflow Loan Scheme provides loans to support the cash flow needs of small businesses (including sole traders and the self-employed) that have been affected by COVID-19.

This assistance has now been extended:

• Businesses that have already accessed a loan can draw down an extra $10,000, with a new repayment period of five years.  The first two years will be interest free.
• Those who have already borrowed under the scheme will also have the first two years interest-free.
• If your business has not yet accessed a loan under this scheme, applications are open until 31 December 2023.  If you are eligible, your loan will be interest-free for the first two years.

Who can get it?

Key eligibility requirements your business must meet to be able to apply:

• Have 50 or fewer full-time equivalent employees (FTEs)
• Been in business for 6 months
• Experience at least a 30 percent decline in actual revenue over a 14-day period in the 6 months before applying

See more about eligibility here: Read More

What can you get?

The maximum size of the loan your business or organisation is eligible for depends on the number of full-time equivalent employees (FTEs) employed. The loan amount is $10,000 per firm, plus $1,800 per FTE capped at $100,000 (excluding new $10k top-up option).

To find out the number of FTEs employed by your business or organisation, you’ll need to know how many full-time and part-time employees you have.

An employee working 20 hours or more per week is considered full-time and counts as 1 FTE.

An employee working up to 20 hours per week is considered part-time and counts as 0.6 FTEs.

The sum of your FTEs is rounded up to the nearest whole number and is measured at the time you apply.

How to apply:

You need to apply through the Inland Revenue Department (IRD) via your MyIR Login.

Leave Support Scheme – LSS

The COVID-19 Leave Support Scheme is available for employers, including self-employed people, to help pay their employees who need to self-isolate and can’t work from home.

This means your employees:

• can’t come into work because they are in one of the affected groups and have been told to self-isolate, and
• can’t work from home.

The COVID-19 Leave Support scheme is paid at the rate of $600 a week for each full-time worker and $359 a week for part-time employees retained.

Short-Term Absence Payment – STAP

The COVID-19 Short-Term Absence Payment is available for businesses, including self-employed people, to help pay their employees who cannot work from home while they wait for a COVID-19 test result.

It’s to help businesses keep paying eligible employees who:

• cannot work from home, and
• need to miss work to stay home while waiting for a COVID-19 test result (in line with public health guidance).

There’s a one-off payment of $359 for each eligible worker. You can only apply for it once, for each eligible employee, in any 30-day period (unless a health official or doctor tells the employee to get another test).

It’s also available to self-employed people.

Business Plan Implementation Grant

Eligible businesses can apply for an Implementation Grant to help implement an existing business plan or to execute a plan based on the Business Advice received. This grant will give many Auckland businesses the funds to begin putting their business plan into action, in one of the available service categories. Auckland businesses can apply for up to $4000 + GST for an Implementation Grant.

Robertson Bixley is approved to provide services under this fund, which will cover the costs for specific services to put your business advice or plan into action. It is not a cash payment.

Activate Tāmaki Makaurau funding is limited and not guaranteed until businesses have successfully registered on the Activate Tāmaki Makaurau portal, requested a proposal/quote from a service provider, and had their funding applications approved.

Wage Subsidy Scheme (WSS)

There are no additional rounds of the Wage Subsidy or Resurgence Support Payment planned.

Resurgence Support Payment (RSP)

Applications for all Resurgence Support Payments are now closed.