As part of the Government’s COVID support initiatives, they have introduced the Resurgence Support Payment (RSP) for businesses with reduced revenue due to COVID alert level increases.
The RSP is calculated as $1,500 plus $400 per FTE (up to 50 FTE). The maximum payment is $21,500. Sole traders can receive a payment of up to $1,900.
To be eligible, businesses must experience a 30% drop in revenue or more over a 7-day period, after the increased alert level – as well as meet a range of other RSP eligibility criteria.
Receiving any other Government COVID-19 support does not affect eligibility for the RSP.
The payments are administered through Inland Revenue. Your accountant can apply for the RSP on your behalf, if they have the authority to apply and hold a record of that authority.
Eligible businesses will be able to apply for the payment from next Tuesday, 23 February 2021 through myIR.
For more information contact K3 Accounting - richard@k3.co.nz or call on 09 366 1366.
