The Transition Support Payment

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 opened in myIR on December 10. It is grouped under RSP in myIR if you are looking to apply (7th RSP).

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.

Of note, as the affected revenue period dates overlap with RSP’s 3 and 4, you should be eligible for this payment if you received either of those RSP’s.

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:

The first 3 RSP’s closed on the 1st December 11.59pm.

The affected revenue periods for the remaining payments are:

4th RSP – 22 October 2021 to 1 December 2021.

5th RSP – 5 November 2021 to 1 December 2021

6th RSP  – 19 November 2021 to 1 December 2021

7th RSP (the Transition Payment) – 3 October to 9 November 2021

When applying in myIR these are called “period applied for”. The payment period in myIR for the Transition payment is ‘3 Oct to 9 Nov’.

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.