The Transition Payment
Posted on 02 Dec 2021
The Minister of Finance has announced a number of changes to the financial support for businesses once New Zealand moves into the COVID Protection Framework at 11.59pm on December 2nd. There will be a one-off Transition Payment to acknowledge the restrictions businesses have faced due to the higher Alert Levels in Auckland, Waikato and Northland. This payment operates in the same way as the Resurgence Support Payments, with the same criteria. Businesses and organisations (and self-employed) with reduced income between 3 October and 9 November may be eligible. Applications will open in myIR on December 10. The Transition Payment operates in exactly the same way as a Resurgence Support Payment, with the following details: Affected Revenue Period: 3 Oct to 9 Nov 2021. Amount: Up to $4,000 + $400 per FTE Final day to apply: 13 January 2022. Also, from December 10th, the final three RSP payments and the Transition Payment will become available to businesses that have changed ownership on or after July 18. The business must be carrying on the same or similar activity as before the change in ownership. Update on the Resurgence Support Payments: There are now currently 3 RSPs in effect and applications for these close on the 13th January 2022. There are no more Resurgence Support Payments or Wage Subsidy payments planned.? The last day to apply for the 8th round of the wage subsidy is 9th December.
