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Released: 16 April 2020
In this special Tax Tips Alert:
Following the implementation of the Wage Subsidy Scheme introduced by the Government to support employers and workers adversely affected by COVID-19, the Ministry of Social Development (MSD) has released details of the employers that have claimed the subsidy and the amounts claimed. There is also increasing scrutiny on businesses as to whether the subsidy has been passed onto employees. In addition, MSD has always maintained its intentions to audit businesses that have claimed the wage subsidy, in order to confirm they do in fact qualify. It is important for businesses to consider how they can evidence their eligibility for the wage subsidy and the use of those funds should they be audited.
In this issue, we discuss the key risks that a business may face in relation to an ineligible claim. We also set out the various stages of a claim and specific issues that businesses should be particularly aware of when making, reviewing, or supporting a claim.
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