You may have heard about the latest government announcement around further financial assistance for those businesses that are most impacted by the current Covid-19 restrictions.
A new Covid-19 Support Payment, being 3 payments in total, of $4000 plus $400 per full-time employee will be available to apply for from 28 February 2022. This payment comes with a higher threshold of 40% drop in 7 consecutive days within the 6 weeks prior to the shift to Phase 2 of the Omicron response on 15 February 2022.
There will also be a top up loan of an additional $10,000 available through the Small Business Cashflow Loans Scheme to eligible businesses.
If you are a business struggling to pay Inland Revenue for your GST and/or Provisional Tax due to impacts from COVID-19, you should log on to myIR to see if there may be assistance with a delayed payment date, or any part of tax may be written off.
Short-Term Absence Payments and the Leave Support Scheme are still available for assistance around testing and self-isolation of your employees.
If you need any help determining if you are eligible, please reach out.
Take care, The TBL Team.