The Government recently announced an extension to the Wage Subsidy Scheme to help those businesses still significantly impacted by COVID-19 after the 12 week wage subsidy ends.
The wage subsidy extension will be available from 10th June 2020 until 1st September 2020 and will cover each named employee for eight weeks.
Do you qualify?
To receive the extension your business must have experienced a 50% loss in revenue for the 30 days prior to applying for the extension compared to the same period last year. There are different calculations for organisations where this is not possible (eg for new businesses).
Your business can only apply for the extension until after your 12 week wage subsidy has ended. Your revenue calculation will be taken from 30 days prior to the end of your 12 week wage subsidy. The wage subsidy extension will be paid for eight weeks from the date you submit your application.
The amount paid to employers does not change, the subsidy is set at a flat rate and paid to employers as a lump sum to cover eight weeks per named employee:
- $585.80 for people working 20 hours or more per week
- $350.00 for people working less than 20 hours per week