Kiwi businesses can breathe a sigh of relief as the Government has extended the wage subsidy for another 12 weeks.
As part of the $50 billion 2020 Budget the Government has announced any business which can prove it has experienced a 50 percent revenue loss for the 30-day period prior to the application date compared to the same period in 2019, can have their wage subsidy extended for 12 weeks.
The initiative is estimated to cost up to $3.2 billion
Social Development Minister Carmel Sepuloni said extending the subsidy will help businesses maintain staff as they adapt to the changing economy.
"It will give firms and their workers some breathing space, while they come to terms with the new business environment," she said on Thursday.
Businesses wishing to apply for the subsidy can do so through the Ministry of Social Development's website.
"Employers who have received money through the current Wage Subsidy will be able to apply for the extended subsidy if they meet the new eligibility criteria but they will need to submit a new application," said Sepuloni.
