Covid-19 Support Payment - CSP
What is this payment?
This payment is designed to support viable and ongoing businesses or organisations which have experienced a 40% or more drop in revenue as a result of the COVID-19 outbreak.
Three fortnightly payments are available.
- Applications for the first payment are open for the period beginning 16 February 2022 and ending 4 April 2022.
- Applications for the second payment are open for the period beginning 7 March 2022 and ending 4 April 2022.
- Applications for the third payment will open at 8am on 28 March 2022 for the period beginning 21 March 2022 and ending 4 April 2022.
Applications for all 3 Covid-19 Support Payments close on 5 May 2022.
How much money can I get?
Eligible businesses will be entitled to a payment of $4,000, plus $400 per full-time equivalent worker (up to 50 FTEs), each fortnight for six weeks.
The maximum entitlement will therefore be $72,000, or $24,000 per payment for an employer with 50 or more employees.
If you are self-employed with no staff the maximum entitlement will be $13,200, or $4,400 per payment.
How can I work out if I am eligible to receive this payment?
The affected revenue periods for each CSP payment are as follows:
- First Covid-19 Support Payment – 16 February 2022 to 4 April 2022.
- Second Covid-19 Support Payment – 7 March 2022 to 4 April 2022.
- Third Covid-19 Support Payment – 21 March 2022 to 4 April 2022.
The comparison period is a typical 7-day revenue period in the 6 weeks between 5 January 2022 and 15 February 2022. Alternatively, you can use a typical 7-day revenue period in the 6 weeks between 5 January 2021 and 15 February 2021.
If you have trouble working out if you are eligible, use the Covid-19 Support Payment calculator on this link to help guide you.
What happens if my business is seasonal?
Businesses or organisations with highly seasonal revenue must meet the drop in revenue test set out above. However, you may select a 7-day comparison period which is before 5 January 2022, and may be from a past year, which reflects your typical revenue. For these purposes you should select a 7-day comparison period that is in a similar point in your revenue earning cycle as the 7-day affected revenue period, so you're comparing similar periods for the purposes of the revenue decline test.
How do I apply?
- Log in to your MyIR account
- Click “I want to…”
- Go down to “COVID-19 Support”
- Click “Apply for COVID-19 Support”
- Follow the instructions to complete the application.
- Follow the link to the IRD website.
- For assistance regarding Covid-19 Support Payments (CSP) you will most likely need to talk to us, your tax agents.
- We can calculate & go through the criteria to see if you are eligible.
- We can also apply for the Covid-19 Support Payment (CSP) on behalf of the client if required.
However sometimes things are easier explained, so give us a call at the office or go to our “Contact us” page. You can also message us using the box below.
If you have any general questions, feel free to use our contact us form on the website.