Source: New Zealand Inland Revenue Department – Press Release/Statement:
Headline: Resurgence Support Payments Bill introduced
<p>The Taxation (COVID-19 Resurgence Support Payments and Other Matters) Bill was introduced to Parliament today, and is expected to be passed under urgency.<br />
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The Bill enables Inland Revenue to administer the new COVID-19 resurgence support payments (CRSP) scheme, which is a one-off support payment to businesses in the form of a grant. The payment would consist of a base amount of $1,500 per applicant plus $400 per full-time equivalent (FTE) up to a cap of 50 FTEs.<br />
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The Bill also increases the minimum family tax credit (MFTC) threshold for the 2021–22 and later tax years from $29,432 to $30,576 per annum.<br />
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For more information see:</p>
<ul>
<li>the Minister of Finance’s <a href=”/news/2021/2021-02-16-resurgence-support-payments-bill-introduced#statement”>media statement</a></li>
<li>the Bill as introduced and departmental disclosure statement</li>
<li>the <a href=”/publications/2021/2021-ria-crspom-bill”>regulatory impact assessments</a> and</li>
<li>the <a href=”/publications/2021/2021-commentary-crspom-bill”>commentary</a> on the Bill.</li>
</ul>
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