2nd and 3rd COVID-19 Support Payment (CSP) updates

A 2nd COVID-19 Support Payment (CSP) will open on 14 March and

A 3rd COVID-19 Support Payment (CSP) payment will open on 28 March.

Applications for all 3 CSPs will close on 5 May 2022

The period of time each CSP will cover are:

• For the 1st CSP, businesses will need to show their income is 40% lower in a 7-day period any time between 16 February 2022 and 4 April 2022, compared to a typical week between 5 January and 15 February in either 2021 or 2022.
  

• For the 2nd CSP, businesses will need to show their income is 40% lower in a 7-day period any time between 7 March 2022 and 4 April 2022, compared to a typical week between 5 January and 15 February in either 2021 or 2022.
  

• For the 3rd CSP, businesses will need to show their income is 40% lower in a 7-day period any time between 21 March 2022 and 4 April 2022, compared to a typical week between 5 January and 15 February in either 2021 or 2022.
  

• The option for businesses to compare their income drop to a typical week in 2021 will be available from 14 March.
  

Self-employed people who have received the Ministry of Culture and Heritage’s one-off emergency grant for self-employed people will be able to apply for the 2nd and 3rd CSPs.

Small Business Cashflow Scheme ‘top-up’ loan:

Applications for the ‘top up’ loan to the Small Business Cashflow Scheme will open on 21 March.

To make this change, the current application process will close at 5pm on 18 March and reopen at 8am on 21 March.

• New Support announced by the government for businesses affected by Omicron, To Read more Click here -> https://kinghans.co/blog/government-announced-new-support-for-businesses-affected-by-omicron

• Financial Support while isolating due to COVID-19, To Read more Click here -> https://kinghans.co/covid19/financial-support-while-isolating-due-to-covid-19

Source: IRD