The maximum size of the RSP your business or organisation may have been eligible to apply for, depends on the number of full-time equivalent employees (FTEs) you had, and your level of revenue.
The 1st - 4th RSP for 17 August alert level rise was calculated as $1,500 plus $400 per FTE (up to 50 FTE). The maximum payment was $21,500. Sole traders could receive a payment of up to $1,900.
The 5th and 6th RSPs were calculated at an increased rate of $3,000 plus $800 per FTE (up to 50 FTE). The maximum payment was $43,000. Sole traders could receive a payment of up to $3,800.
The 7th RSP, known as the Transition Payment was calculated at an increased rate of $4,000 plus $400 per FTE (up to 50 FTE). The maximum payment was $24,000. Sole traders could receive a payment of up to $4,400.
- Employees regularly working up to 20 hours per week are considered part-time (0.6 FTE).
- Employees regularly working 20 hours or more per week are considered full-time (1.0 FTE).
Businesses with low revenue had their payment capped for the 1st to 4th RSPs at 4 times (4x) the amount their revenue has dropped over the 7-day affected period. For the 5th, 6th and 7th RSP, this is 8 times (8x) the actual revenue drop over that period.
For example, if your business has 3 FTEs, they would, subject to the low revenue cap, be entitled to $2,700 ($5,400 for the 5th or 6th payment). However, if their revenue drop was $500, their RSP payment would be limited to $2,000 (or $4,000 for the 5th or 6th period).