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NZ COVID-19 wage subsidy August 2021

Steven_M
MYOB Moderator
43,274 Posts
MYOB Moderator
New Zealand
MYOB Moderator

43,274Posts

5,816Kudos

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NZ COVID-19 wage subsidy August 2021

Hi Everyone

 

With the announcement of the NZ COVID-19 wage subsidy August 2021, here's some additional information you may find helpful:

 

The Wage Subsidy August 2021 will cover a two week period at the rate of:

  • $600 a week for each full-time employee retained (20 hours a week or more)
  • $359 a week for each part-time employee retained (less than 20 hours a week)

This is a taxable subsidy and is treated as a normal payment. This means other items, such as KiwiSaver, student loan, and child support payments... will still need to be paid. You'll still need to do your payday filling for these pays as well.

 

To keep it clear for your employee's and yourselves, we recommend setting up a new payroll item for the subsidy payment. Depending on your software this may be called something different, however, the principle remains the same. You can find more detailed steps for your Payroll products below:

Ace Payroll

MYOB Essentials

MYOB Payroll (Desktop)

 

Some other additional resources available around this topic:

Work and Income

COVID-19: Financial support for businesses

MYOB COVID-19 Business resource centre

Kind regards,
Steven

MYOB Community Support

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