Additional COVID Support Package for NSW Businesses

Posted 14 Jul '21

Additional COVID Support Package for NSW Businesses

The Federal and NSW Governments have announced further support aimed at helping businesses and people right across the state fight through the current COVID-19 lockdown.

• The business grants program announced two weeks ago has been expanded, with grants between $7500 and $15,000 available to eligible businesses with annual wages up to $10 million to cover the first three-weeks of restrictions.

• A “JobSaver” employee retention scheme providing cashflow support to businesses to help them retain staff. The cash boost will be up to 40% of weekly payroll with a payment of between $1,500 to a maximum of $10,000 per week, provided staffing levels are maintained at the level as of 13 July 2021. Non-employing businesses are eligible for $1,000 per week.

• A new grant program has also been introduced for smaller micro businesses with turnover between $30,000 and $75,000 which experience a decline in turnover of 30 per cent. The businesses will be eligible for a $1,500 payment per fortnight of restrictions.

• Payroll tax waivers of 25 per cent for businesses with Australian wages of between $1.2 million and $10 million that have experienced a 30 per cent decline in turnover, as well as payroll tax deferrals and interest free repayment plans.

• Land tax relief equal to the value of rent reductions provided by commercial, retail and residential landlords, up to 100 per cent of the 2021 land tax year liability.

• A requirement on landlords to participate in mediation before taking actions to evict or lock out tenants. 

• An increase in the payment amount for stood down workers from $500 to $600 per week for those who lost more than 20 hours, and to $375 for those who lost between 8 and 20 hours, and available to workers outside of the Greater Sydney lockdown areas.

• Deferral of gaming tax assessments for clubs until 21 December 2021 and hotels until 21 January 2021.

• A $75 million support package for the performing arts sector to be administered by Create NSW.

• A $26 million support package for the accommodation sector.

Applications for support are due to open from 19 July 2021.

Get in touch with your WDF Professional contact or phone 02 6921 5444 to talk with us about how we can help determine your eligibility as more specific details become available.