---
title: Second Stimulus announcement 23/03/2020
description: Second Government Stimulus package in order to getting ready for Level 4 COV19 action
---

<https://blog.wiseadvice.co.nz>

# [Second Stimulus announcement 23/03/2020](https://blog.wiseadvice.co.nz/second-stimulus-announcement-23/03/2020)

 Written by [Brad Golchin](https://blog.wiseadvice.co.nz/author/brad-golchin) | 23/03/2020

Please refer below to the summary of the announcements today for business owners.  
• Cabinet has agreed to expand the wage subsidy and has removed the $150,000 cap.  
• All businesses are eligible, self-employed, contractors plus registered charities, NGOs, and incorporated societies.  
• Businesses that are less than a year old, or who have had significant income in the last year are also eligible – they will need to demonstrate a similar loss of income due to Covid 19 e.g. January 2020 to March 2020.  
• Self-employed people with variable income are also now eligible if they can demonstrate the loss against the previous year’s monthly average.  
• Rent increases are frozen.  
• No cause terminations are extended to protect people.  
• Agreement in principle to a business financing guarantee – allowing banks to extend lending to firms that would otherwise be viable.  
• Agreed support for mortgage holders – details in a few days.  
• Arrangements are being made for income support for all earners as Level 4 goes on.  
Advice is to  
• Take the time to work through your option – get in touch with your bank and work together to decide the best for your business.  
• We are aware that some of you are confused about the 80% requirement on top of the $528 subsidy for wages and we are getting clarification and will let you know as soon as we have that confirmed.  
<https://www.health.govt.nz/your-health/services-and-support/health-care-services/mental-health-services/mental-health-services-where-get-help?utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-_l2MgrOMZBK2UyuRqX7a-N0Z67YVyDLYnlO_N9K0_BHc53acTkEnj7L3TobPdNFKIwa1RQ>

you can download the list of [essential services Here ](https://blog.wiseadvice.co.nz/hubfs/COV19/essential-services-list.pdf)

 

Here is the short video about the update:

<http://videos.wiseadvice.co.nz/watch/SWrdpREMZ4fn5kXxv2NWf7?&utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-_l2MgrOMZBK2UyuRqX7a-N0Z67YVyDLYnlO_N9K0_BHc53acTkEnj7L3TobPdNFKIwa1RQ>

Please be kind and try to support each other when you can.❤️❤️❤️

[View full post](https://blog.wiseadvice.co.nz/second-stimulus-announcement-23/03/2020)

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