More Support for NZ Business Available

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A third round of Resurgence Support Payments (RSP) was recently opened for applications in New Zealand.

Explaining the rationale behind the Government’s decision to extend the program, Finance Minister , Grant Robertson said: “The RSP helps businesses with their fixed costs, such as rent. It provides cashflow to businesses and supports them to pay their bills while the country is at Alert Level 2 or above.

“The payment was originally created as a one-off payment, but last month the Government decided to make it a three-weekly payment in recognition of the pressure on many businesses.

“So far, the RSP has paid out just over NZ$947 million to businesses. Coupled with the Wage Subsidy Scheme, the Government has supported businesses and workers to the tune of $3.9 billion since the Delta outbreak began.”

The RSP includes a core per-business rate of $1,500, plus $400 per employee, up to a total of 50 full-time equivalents – a maximum payment of $21,500. Businesses with more than 50 FTEs can still apply but cannot get more than the maximum payment.

Commenting on the payments, Revenue Minister David Parker said: “The payment and eligibility criteria to qualify for the RSP remain the same as the previous two payments, including that those applying must experience at least a 30% decline in revenue over seven days (starting on or after 1 October for this payment) as a result of being at Alert Level 2 or higher. The scheme will be available until all of New Zealand returns to Alert Level 1 for one month.”

Inland Revenue encourages those applying to ensure the accuracy of the information they provide, as if it isn’t correct that will delay processing. Businesses can apply for the payment by logging into their MyIR account. Further information can be found on the Inland Revenue website.