We summarise the support that was available during COVID-19 and provide information about some support you may still have queries about.
COVID-19 support schemes
The government announced several schemes to support businesses and organisations impacted by COVID-19.
COVID-19 Support Payment
The COVID-19 Support Payment (CSP) was for viable and ongoing businesses or organisations facing a reduction in revenue due to COVID-19 circumstances.
Temporary loss carry-back scheme
The loss carry-back scheme was only enacted for the 2020 and the 2021 years.
Businesses expecting a loss in either the 2020 year or the 2021 year could use that loss to offset profits they made the year before. In other words, they could carry the loss back 1 year to the preceding income year.
Small Business Cashflow Scheme
Your business or organisation may be eligible for a loan from the Government.
Small Business Cashflow Scheme
Wage subsidies
Depending on your circumstances, you may have been eligible to apply for a wage subsidy paid by the Ministry of Social Development (MSD).
Wage subsidies should have been passed onto employees by the employer and processed as part of an employee's normal wages.
All deductions (such as PAYE, KiwiSaver and child support) should have been made as normal.
COVID-19 Income equalisation assistance for farmers, fishers and growers
Farmers, fishers or growers materially affected by COVID-19 were permitted to make early refunds. In this case, materially affected meant that the farmer, fisher or grower was in financial difficulty, through the incurring of significant additional expenditure or through a significant decrease in revenue as a result of the impacts of COVID-19.
Resurgence Support Scheme
The Resurgence Support Payment was for viable and ongoing businesses or organisations facing a reduction in revenue due to an alert level increase of 2 or higher.