Covid Financial Support - Summary for Rideshare Drivers
There are at least three different payments available to drivers related to the recent alert level changes. Please see below a summary I have made from the various websites.
You will need to apply yourself through the IRD and Winz websites as explained below. (Or we can apply for a small fee if unsure - Rideshare Consultant's clients only)
Resurgence Support Payment (RSP) x 2
14 Feb alert level increase (available now)
28 Feb alert level increase (available now)
Available nationally - even if alert level is not increased across the whole country
Payment is lesser of $1500 plus $400 per full time employee (as an Uber driver you just put yourself down as your businesses employee).
Or: four times the actual revenue drop
You must have experienced a 30% drop in revenue due to the increased alert level (this is calculated and checked for you on form).
This decrease is compared with a "typical" 7 day period in the six weeks prior to the first (14 Feb) alert level increase for both RSP’s. If revenue the week before was higher or lower than normal chose another “typical” seven day period in the last six weeks.
You must have been in business at least six months and be ongoing and viable.
The affected revenue period should be the seven days of the increased alert level. First was from 15 Feb, second was from 28 Feb. Check apps for how much made in fares over the affected periods.
You will need an NZBN number. Apply at this LINK.
Apply via your online IRD account. Application is in the “I want to section”
Payments should be received within 5 working days
If you make a mistake send them a message in the “I want to section”
RSP payments are not subject to income tax and expenditure funded by RSP’s is not deductible.
Payments and related expenditure are subject to GST (for GST registered drivers)
The payments must be used for business related costs
Wage Subsidy 2021
Must have had or expect to have a 40% decline in revenue related to the alert level increase over a 14 day period between 28 Feb and 21 March compared to a typical 14 day period between 4 Jan and 14 Feb 21. It may be best to wait to see if you actually have a 40% drop.
Revenue is before expenses and does not include subsidies and RSP’s.
Available for all of NZ. Applications close 21 March.
Will be paid as two week lump sum $585.80 p/w full time, $350 p/w part time (use average hrs worked over last 12 mths)
No GST on wage subsidy. Income tax will apply for self employed.