The wage subsidy guidelines are evolving daily. We understand some employers are concerned about the potential implications of getting the application wrong, particularly if you have based the application on a forecast position. Here are some thoughts to help you through the process.
If you think you meet the criteria, you are entitled to apply for the subsidy. It is important for you to have documentation to support this position. This is likely to include a turnover forecast based on the changes you are seeing in your business. Save these workings together with any commentary you have so you can provide it if required.
For those of you that have received the wage subsidy already, you may be preparing your first payroll with the subsidy. Some points to note:
- Check the Work and Income website before you process the payroll as it is being updated regularly (especially regarding part-time employees)
- Set up a spreadsheet to keep track of your employees, what subsidy you received and how much has been paid out each pay-run
- Ensure you still adhere to normal employment law rules through this period
Remember this is uncharted territory and the rulebook is being written as we go. If you are acting in good faith and doing your best to look after your staff, then you shouldn’t have anything to worry about.
If you have any queries, please speak to your Hayes Knight advisor