The NSW and Federal Government have announced a series of support packages for NSW businesses during extended lockdowns of 4 weeks or more.
COVID-19 Business Grant
If you’re a business, sole trader or not-for-profit organisation in NSW and you’ve been impacted by the recent COVID-19 restrictions, you may be eligible for a one-off grant of $7,500, $10,500 or $15,000.
To be eligible for the grant, you must:
- have an active Australian Business Number (ABN)
- demonstrate your business was operating in NSW as at 1 June 2021
- have had total annual Australian wages of $10 million or less as at 1 July 2020
- have had an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2020
- have business costs for which there is no other government support available
- maintain your employee headcount as at 13 July 2021.
Three different grant amounts will be available depending on the decline in turnover experienced over a minimum 2-week period from 26 June 2021 to 17 July 2021, compared to the same period in 2019:
- $7,500 for a decline of 30% or more
- $10,500 for a decline of 50% or more
- $15,000 for a decline of 70% or more.
- Businesses and not-for-profit organisations on the NSW border with Victoria impacted by the stay-at-home orders that began on 27 May 2021 may use a different comparison period to demonstrate a decline in turnover. For each of the 3 grant amounts, these businesses must demonstrate a decline in turnover over a minimum 2-week period from 27 May 2021 to 26 July 2021.
Applications are open. We can assist you with your application.
Micro Business Grant
If you’re a micro business (small business or sole trader with annual turnover of more than $30,000 and under $75,000) impacted by the current Greater Sydney COVID-19 restrictions, you may be able to apply for a $1,500 payment per fortnight of restrictions from late July 2021. You will need to demonstrate that your business has had a 30% decline in turnover for a specified period and the business provides the primary income source for the person associated with the business.
Applications are not yet open but you can register your interest with Service NSW.
Cashflow Support – JobSaver
A cashflow payment between $1,500 and $10,000 per week will be available, based on 40% of the NSW payroll payments of your business. Businesses without employees that meet certain eligibility criteria (such as sole traders) will be able to receive a payment of $1,000 per week.
To be eligible, your business needs to have the following:
- Annual turnover between $75,000 and $50 million
- Demonstrate a 30% decline in turnover
- Maintain your full time, part time and long term casual staffing level as of 13 July 2021
- Impacted by the current Greater Sydney COVID-19 restrictions
Applications are not yet open at time of writing but you can register your interest with Service NSW.
Payroll Tax Relief
NSW payroll tax has been deferred for July and August 2021 until 7 October 2021 for all businesses.
Businesses with Australian wages of between $1.2 million and $10 million that have experienced a 30% decline in turnover will be provided with a 25% payroll tax waiver in the 2022 financial year.
You need to get ready to avoid delays in the completion of any support measure applications.
- Ensure your business and contact details are up to date with the Australian Business Register (ABR).
- Ensure your personal, contact and business details are up to date in your MyServiceNSW Account and your Service NSW Business Profile.
- If you don’t already have one, create a MyServiceNSW Account and business profile.
Please let us know if you require our assistance with the above important steps.
Not all support measures have yet been finalised. We will keep you informed as we learn more information from the NSW and Federal Governments.