The New Zealand government has decided to provide additional support for businesses that are still affected due to the pandemic impact. After discussing with companies, the government has changed the required revenue drop threshold from 50 per cent to 40 per cent.
Up to 230,000 companies are now estimated to be eligible for the eight-week scheme beginning from 10 June and shall cover approximately 910,000 workers.
The main highlights are:
- Additional 40,000 businesses shall become eligible for the wage subsidy extension.
- Cashflow support application period extended for small companies.