Covid 19 Financial Package in Plain English - 18 March 2020
There are two main support packages in the Government's Covid 19 Financial Package - leave payment and wage subsidy. Leave payment is paid to the employee if they need to self-isolate Wage subsidy package is paid to the employer to help retain staff Support is available to Employer, Contractor, Sole Trader or Self Employed. Self-employed person must be: · earning a minimum wage income at the time of self-isolation, · were expecting to work and · cannot draw an income during self-isolation Leave payment – paid to employee Where an employee cannot work from home, BUT has to self-isolate or is sick. Support is available to the Employer, Contractor, Sole Trader or Self Employed. Employer must reapply every 14 days.
$585 pw if you work more than 20 hours
$350 pw if you work less than 20 hours
The employee must be legally working for the employer at time of self-isolation, expected to work during the period of isolation. Wage Payment – paid to the employer Support is available to the Employer, Contractor, Sole Trader or Self Employed. The employer must show or expect a 30% drop in revenue for the period - January 2019 to June 2019 compared to January 2020 to June 2020 Goal is to help employers struggling to retain staff. Staff must be legally working in NZ. Employer must declare to the best of their ability that they will retain their staff at 80% of the employee’s current hours. Employer will receive a lump sum payment of
$7,029.60 full time employee
$4,200.00 part time employee