Covid-19: Financial Support 

The latest news and updates about the financial support packages available from Government. Get in touch to see how we can help you.


On this page:

Modified Wage Subsidy

The Government has put together a COVID19 Wage Subsidy for employers in all regions.

It’s to support your business if you are impacted by COVID-19 and face laying off staff or reducing their hours because of COVID-19.

If you are an employer, contractor, sole trader or self-employed you may qualify to get the COVID-19 wage subsidy.
To qualify:

  • your business must be registered and operating in New Zealand

  • your employees must be legally working in New Zealand

  • the business must have experienced a minimum 30% decline in actual or predicted revenue over the period of a month when compared with the same month last year, and that decline is related to COVID-19

  • your business must have taken active steps to mitigate the impact of COVID-19

  • you must make best efforts to retain employees and pay them a minimum of 80% of their normal income for the subsidised period.

The COVID-19 Wage Subsidy will be paid at a flat rate of: 

  • $585.80 for people working 20 hours or more per week.

  • $350.00 for people working less than 20 hours per week.

More information is available at: &

Important notes

  • This subsidy is paid as a lump sum and covers 12 weeks per employee

  • There is an expectation that the employees you receive the subsidy for are kept in paid employment for the full 12 weeks. That means no redundancies for the period of 12 weeks.

  • This subsidy is for wages only. You must pay your employees AT LEAST the subsidy you received from the government for them (either $585 or $350) if you are unable to pay their wages in full. It is expected you 

  • The subsidy still needs to be paid to your staff through your payroll systems, and is still subject to employee deductions (PAYE, SL, KS etc.)

  • This subsidy can only be applied for once and received once.

Please note: this subsidy is classed as an exempt receipt and therefore is a non-deductible expense when paid to employees.

Click here to appy for the Wage Subsidy


UPDATE: as per the declaration on application of the Wage subsidy, the Government will be publishing the recipients payment information on the Ministry of Social Development website from Monday 6 April.


Business Finance Guarantee Scheme


The Government has launched a Business Finance Guarantee Scheme for small and medium-sized businesses, to protect jobs and support the economy. The Crown, in partnership with participating approved banks, will support targeted new loans (including increases to existing limits) to eligible businesses, as a response to difficulties caused by COVID-19.

Under the scheme, businesses with annual revenue between $250,000 and $80 million can apply to their banks for finance. The scheme will offer a total of $6.25 billion in loans to New Zealand businesses.

The Government is guaranteeing 80% of the risk, while the banks are covering the remaining 20%. A normal lending process will be followed by the banks, which will make the lending decisions.

These loans will be provided to meet urgent liquidity and bridging finance requirements due to the disruption to the businesses caused by Covid-19. This includes (but is not limited to) things like rent, and staff expenses.

Key points:

  • Loans will be made up to $500,000, with a maximum loan term of 3 years.

  • The loan is a secured on-call revolving credit facility available to be drawn down to a business transaction account.

  • Interest will only be paid on the drawn down amount. This is calculated and charged monthly.

  • The total limit will reduce over loan term until fully repaid.

How to get a Business Support Loan:

To put you in the best position to appy for lending, we suggest you get in touch with our Covid-19 expert at:



Subject: Business Support Lending Proposal


so we can put together a lending proposal pack for your bank.

The Lending Proposal Pack includes:

  • The last financial statements for your business

  • A copy of your IRD tax summary

  • A cashflow forecast detailing income and essential expenditure (minimum 3 months)

  • A personal statement of position

  • A personal income verification if applicable.

Moving fast is the key here - the sooner you get in touch, the sooner we can potential any potential cashflow snowballs before they start rolling.

For more information on the Business Finance Guarantee Scheme, email the team at

More information regarding the Covid-19 Business Finance Guarantee Scheme is available here:

Essential Workers Leave Scheme


The Government has announced a new scheme to support essential workers who are unable to work from home and need to self-isolate, or are at higher risk of becoming sick with COVID-19, or have a higher risk person in their bubble.

The scheme is focused on three groups of essential business workers, and employers will be eligble to apply for those employees under the scheme.

They include:

  • Workers who are self-isolating in accordance with public health guidance because they have contracted the virus or have come into contact with someone who has contracted the virus (or have a dependent they need to care for who is sick or self-isolating)

  • Those deemed at higher risk if they contract COVID-19, in accordance with public health guidance and as such should self-isolate for the duration of the lockdown (and potentially longer);

  • Those who have household members who are deemed at higher risk if they contract COVID-19, in accordance with public health and as such should self-isolate for the duration of the lockdown (and potentially longer) to reduce the risk of transmitting the virus to that household member.

Payments will be four-weekly with the option for essential businesses to re-apply for those same workers after four-weeks, or make further applications for additional workers who are eligible at any time, while the scheme remains open.

Support will be paid at a flat rate of:

  • $585.80 for people who were working  20 hours or more per week

  • $350.00 for people who were working less than 20 hours per week

Employers accessing the scheme should pay workers at either:

  • Their usual weekly income before COVID-19, if this is less than the relevant rate provided; OR

  • A minimum of the full leave rate, if the workers’ usual income before COVID‑19 exceeds the relevant rate, and in that case also make best endeavours to pay at least 80 percent of the workers’ usual income before COVID-19;

Employees who are on other forms of paid leave should be paid at least their usual full rates of pay.

Click here to apply for Essential Workers Leave Support

For more information, email our COVID-19 support specialist here:

More information regarding the Covid-19 Essential Workers Leave Scheme is available here:



  • LinkedIn
  • Facebook

P: +64 3 214 2122


© 2020 Copyright Cross Group Services Ltd.