The Minister of Finance announced recently that the Government will provide financial support to businesses as they transition from the current COVID level system to the new Traffic Light system.
Businesses will be able to receive a one off transition payment of up to $24,000.
The payment can be applied for using the resurgence support payment portal via myIR. Applications open on 10 December 2021.
The transition payment consists of:
- An initial lump sum payment of $4,000
- $400 per full-time employee (FTE)
- Capped to a maximum of 50 FTE’s
How does your business qualify for the transition payment?
To qualify for the transition payment, businesses will need to show a decrease in revenue of 30% for one week during the period 3 October to 9 November 2021, as compared to a typical week’s revenue in the six weeks before 17 August 2021.
The current wage subsidy and resurgence support payment applications will remain open even though we will transition to the Traffic Light system.
Should you require more information or assistance applying for the Traffic Light transition payment please contact us.
Mike McNab mike.mcnab@dfkogc.com
Sanjay Kumar sanjay.kumar@dfkogc.com
Anit Patel anit.patel@dfkogc.com
Shane Browning shane.browning@dfkogc.com
Alternatively, please contact us here so that we can arrange a time to call you back.
