TFS Weekly Update - 7th December 2021

This weeks update:

Traffic light transition payment and Resurgence Support Payment change

On Monday 29 November the Minister of Finance announced a:

• transition payment as New Zealand moves into the traffic light system
• change to the Resurgence Support Payment (RSP) for businesses that have recently changed owners.

Transition payment for the move into the traffic light system

On 10 December, applications for a one-off transition payment will be available to eligible businesses, particularly in recognition of the length of time and restrictions Auckland, Waikato and Northland have had under the higher Alert Levels.

Your business may be able to get the payment if it had reduced income between 3 October and 9 November.

The transition payment will be available through the RSP system in myIR, and has the same eligibility criteria.

Resurgence Support Payment available to more businesses

From 10 December, businesses that changed ownership on or after 18 July may be able to get the RSPs made from 29 October. To get an RSP in this situation, the business:

• needs to meet the RSP criteria
• must have been operating for at least 1 month before 17 August
• activity must remain largely the same as before the change in ownership.

For further information on COVID-19 Resurgence Support (RSP) please click here.