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The government has announced an extension of a further 8 weeks to the 12 week Covid-19 wage subsidy already in place.
Applications can't be made until 10th of June.
- It is available if you are down or expect to be down 50% in revenue for the 30 days (or nearest period) prior to 10/6/20, compared with last year.
- We would expect the period of May this year would be a suitable substitute if you were not a cash-based business.
- First step will be to look at your sales records for May 2019, or the period May 11 to June 9 so you have benchmark.
We'll be sending out further information as the details become clearer.
14 May 2020 - Information on the Work and Income website's "COVID-19 Wage Subsidy Extension" page states:
A Wage Subsidy Extension payment will be available to support employers, including sole traders, who are still significantly impacted by COVID-19 after the Wage Subsidy ends.
The Wage Subsidy Extension will be available from 10 June 2020 until 1 September 2020.
Visit the Work and Income website for more information.
Disclaimer: The information in this article is of a general nature only, and is not intended to address specific circumstances of any particular individual or entity. Specific advice should be sought from qualified professionals prior to relying on any information received from this article.