COVID-19 Wage Subsidy March 2021
To qualify for the March 2021 subsidy, your business needs to experience a 40% decline in revenue over a consecutive 14-day period between 28 February and 21 March, compared to a typical 14-day period between 4 January and 14 February 2021 (6 weeks before the change in Alert Levels). This is available to businesses throughout New Zealand.
(Extract of overview below is from business.govt)
Application for wage subsidy:
- You'll be able to apply online from 1pm on Thursday 4 March 2021 and payments start from Monday 8 March 2021.
- From 1pm on Thursday 4 March 2021 there will be a link to the application form on the “Work and Income” COVID-19 Wage subsidy March 2021 page.
Wage Subsidy Payment rates:
The Wage Subsidy March 2021 will be paid for 2 weeks at the rate of:
- $585.80 a week for each full-time employee retained (20 hours a week or more)
- $350 a week for each part-time employee retained (less than 20 hours a week).
You can’t get a Wage Subsidy for an employee for the period they're covered by a Leave Support Scheme or Short-Term Absence Payment.
I’m unsure if I will be eligible, what should I do?
- For guidance regarding criteria for Wage Subsidy Scheme March 2021 you can find more details on the IRD website.
- As tax agents we can calculate & go through the criteria to see if you are eligible.
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.