This has been introduced to support SME businesses and organisations struggling because of loss of revenue as a result of COVID-19. Available to charities and not-for-profit entities.

It is available to those who are sole traders as well as SME employers and other organisations e.g. charities and not-for-profit entities

Is my business or organisation eligible for the SBCS?

Your business or organisation must be viable and you must have a plan to ensure it remains viable.

For employers, your business or organisation is eligible for the SBCS if:

•You received the wage subsidy for 50 full-time-equivalent employees or less (≤$351,480)OR

•You did not apply for the wage subsidy but are eligible and have 50 full-time-equivalent employees or less.

Full information is available from IRD HERE

How do I apply for the SBCS?

Apply through your myIR account from 12 May -12 June 2020.

Don’t have a myIR account? Register at ird.govt.nz 

You will need to:

•Provide your NZBN and a valid New Zealand bank account

•Confirm you’re experiencing a 30% decline in actual or predicted revenue

•Confirm your business or organisation existed before 1 April 2020

•Confirm your business or organisation is viable

•Confirm the purpose of the loan is to pay for core operating costs

•Confirm the loan will not be passed through to shareholders or owners

•Confirm you are the appropriate authority

•Agree to the loan agreement.

Inland Revenue does not provide financial advice. Please check with your financial adviser.