New COVID Support Package for NSW Businesses

Posted 29 Jun

New COVID Support Package for NSW Businesses

Today the Premier announced a new support package for small business across Sydney and regional areas impacted by the current Covid-19 Restrictions.

The package includes grants of between $5000 and $10,000 for small businesses, payroll tax deferrals for all employers, an extension of the Dine & Discover program to 31 August and the ability for people to use Dine & Discover vouchers for takeaway delivered directly to their home by the venue itself.

There are three different grant amounts available for small business depending on the decline in turnover experienced during the restrictions.

• $10,000 for a 70% decline
• $7,000 for a 50% decline and
• $5,000 for a 30% decline

The grants will be divided into two streams:

1. Small Business COVID-19 Support Grant of $5,000 - $10,000.

Available to businesses and sole traders with fewer than 20 full time equivalent employees and a turnover of more than $75,000 per annum but below the NSW Government 2020 21 payroll tax threshold of $1,200,000 as at 1 July 2020.

2. Hospitality and Tourism COVID-19 Support Grant

Available to tourism or hospitality businesses that have a turnover of more than $75,000 and an annual Australian wages bill of below $10 million, as at 1 July 2020.

Application for the grants will be via Service NSW and be available in coming days.

Other support includes:

• An optional deferral of payroll tax payments due in July 2021.
• An extension of Dine and Discover program to 31 August to allow people more time to use them.
• Dine & Discover vouchers will be able to be used for takeaway when delivered direct to the home by the café (not pick up and not redeemed through third party platforms)

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