Perriam and Partners, Chartered Accountants, Christchurch

LEVEL 4 LOCKDOWN – FINANCIAL SUPPORT FOR THE EMPLOYER

The Government has announced the re-opening of two schemes to assist employers through this latest lockdown period.

Applications will be accepted from Friday 20^th August, with the first payments usually available after 3 days.

WAGE SUBSIDY SCHEME (WSS) - available nationally

This can be applied for by eligible employers if they expect a loss of 40 percent of revenue, as a result of the Alert Level change. The subsidy will be paid as a two-week lump sum at the following rates:

$600.00 per week, for people working 20 hours or more per week (full-time rate)

$359.00 per week, for people working less than 20 hours or more per week (part-time rate)

RESURGENCE SUPPORT PAYMENT (RSS) - available nationally

This is payment to assist businesses or organisations with one-off costs due to an Alert Level change. Eligible businesses throughout New Zealand can apply for the RSS if they incur a loss of 30 percent of revenue, as a result of the Alert Level changes.

The RSS continues to be $1,500 plus $400 per full-time employee, up to a maximum of 50 full-time employees.

The MSD website has now been updated with the revenue decline criteria, in order to qualify for the August 2021 wage subsidy. Applications can be made by clicking here.

Please click here for information from Work & Income that covers the latest elements of the Government's announcement regarding the wage subsidy package.

We acknowledge that this will be a difficult time for many individuals and businesses.

Should you have any questions or queries on the information, then please do not hesitate to contact one of our staff members.

Please click here for flyers on COVID-19.

AML/CFT Act Information

Have a listen to our team song ...

THE PACESETTER... 26 OCTOBER 2021

OPINION

It is a shame that the USA didn't offer up much of a challenge for the All Blacks on Sunday morning. So much for the USA "super power".

OF INTEREST

Lots of talk of late about our CPI. Did you know that in the basket of goods that is measured are vaping devices? Housing and household activities make up 35% of the index.

TOPICAL

Hope you all managed to relax on Monday and celebrate the 8 hour working day. Someday soon this will be a thing of the past.

SPOTLIGHT

Vaccine certificates – when and how? Come on Jacinda, keep up with the play. New Zealand is lagging behind the rest of the world.

GEM OF THE WEEK

It is exactly 60 days until Christmas.

MARKET TALK

Meridian may find out this week that due to its dominance in the electricity market it may have to unload one of its power stations. That's got to be good news for the consumer, not so good for the investor!