ISSUE
Friday, August 15, 2025
Volume 16 . Issue 72
Finance Minister Grant Robertson has announced a new wage subsidy scheme today after the earlier wage subsidy and subsequent extension of wage subsidy scheme.
The new wage subsidy scheme will cost $510 million. The costs are expected to be covered by the previous underspend on the extended wage subsidy.
The new wage subsidy scheme will save 470,000 jobs and along with the original wage subsidy and extension schemes will save a total of 930,000 jobs.
The criteria for the new wage subsidy will remain similar with businesses required to experience or predicted to have a 40 per cent revenue drop due to COVID-19.
The revenue drop, for the purpose of eligibility under new wage subsidy should be for any consecutive period of at least 14 days within 12 August and 10 September compared to last year.
Mr Robertson said, “The new wage subsidy will help support cashflow and confidence. Along with the existing wage subsidy extension – which is open until 1 September for eligible businesses – the Treasury estimates that about 930,000 jobs will be covered by the two schemes.”
The wage subsidy will cover a two week period (the time Auckalnd has been moved into Alert Level 2), which businesses can apply for any stretch of consecutive 14 days where they have experienced a 40 per cent fall in revenue anytime between 12 August and 10 September.
The mortgage deferral scheme is also being extended from its current end-date of 27 September, to 31 March 2021. Further details will be made available by the Reserve Bank and the retail banks.
MSD has advised the new wage subsidy scheme will be open for applications by the end of the week, Friday 21 August.
Finance Minister also announced strengthening of Covid-19 Leave Support scheme to help businesses with wage subsidies for staff who have been asked for self-isolation after testing by appropriate medical officers and public health officials.
“To further support wide-scale testing, we’ve removed the revenue-drop and ‘negatively impacted’ tests for the COVID-19 Leave Support Scheme. This means businesses with workers who have been told by health officials or their medical practitioner to self-isolate will receive the equivalent of the wage subsidy to help cover that person’s wages for the time they cannot be at work," Mr Robertson said.
Finance Minister Grant Robertson has announced a new wage subsidy scheme today after the earlier wage subsidy and subsequent extension of wage subsidy scheme.
The new wage subsidy scheme will cost $510 million. The costs are expected to be covered by the previous underspend on the extended wage...
Finance Minister Grant Robertson has announced a new wage subsidy scheme today after the earlier wage subsidy and subsequent extension of wage subsidy scheme.
The new wage subsidy scheme will cost $510 million. The costs are expected to be covered by the previous underspend on the extended wage subsidy.
The new wage subsidy scheme will save 470,000 jobs and along with the original wage subsidy and extension schemes will save a total of 930,000 jobs.
The criteria for the new wage subsidy will remain similar with businesses required to experience or predicted to have a 40 per cent revenue drop due to COVID-19.
The revenue drop, for the purpose of eligibility under new wage subsidy should be for any consecutive period of at least 14 days within 12 August and 10 September compared to last year.
Mr Robertson said, “The new wage subsidy will help support cashflow and confidence. Along with the existing wage subsidy extension – which is open until 1 September for eligible businesses – the Treasury estimates that about 930,000 jobs will be covered by the two schemes.”
The wage subsidy will cover a two week period (the time Auckalnd has been moved into Alert Level 2), which businesses can apply for any stretch of consecutive 14 days where they have experienced a 40 per cent fall in revenue anytime between 12 August and 10 September.
The mortgage deferral scheme is also being extended from its current end-date of 27 September, to 31 March 2021. Further details will be made available by the Reserve Bank and the retail banks.
MSD has advised the new wage subsidy scheme will be open for applications by the end of the week, Friday 21 August.
Finance Minister also announced strengthening of Covid-19 Leave Support scheme to help businesses with wage subsidies for staff who have been asked for self-isolation after testing by appropriate medical officers and public health officials.
“To further support wide-scale testing, we’ve removed the revenue-drop and ‘negatively impacted’ tests for the COVID-19 Leave Support Scheme. This means businesses with workers who have been told by health officials or their medical practitioner to self-isolate will receive the equivalent of the wage subsidy to help cover that person’s wages for the time they cannot be at work," Mr Robertson said.
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