From the Stuff website:
The New Zealand Police Association has received $370,000 under the Government’s coronavirus wage subsidy scheme, citing the closure of its holiday homes as having a significant impact on revenue.
However, a tax commentator says the association should not be relying on the scheme, as it has $7 million in cash and cash equivalents and investments of $60 million.
The wage subsidy is available to all businesses that can show a minimum 30 per cent drop in actual or predicted revenue in any month from January to June that is attributable to Covid-19.
Employers are not required to satisfy a good character test or sell assets before applying. However, Work and Income’s website does advise businesses to mitigate the financial impact, which can include “drawing from your cash reserves (as appropriate)”.
Is not the scheme intended to assist the employees of small to medium businesses affected by the lockdown? The explanation given for this handout doesn’t stand scrutiny and it smacks of a reward for the political favours rendered by this Assocation to the Jacinda government. —Eds