Supporting our members
As your peak industry body, we are here to support you and your business throughout the Coronavirus (COVID-19) pandemic and will continue to share the latest updates on Government initiatives and relief packages available for businesses in relation to COVID-19.
The information is provided from AGDA who continues to proudly support and assist during this challenging time.
Breaking News: Federal and NSW Government’s extend business support
The Prime Minister and NSW Premier this afternoon announced an expanded support program for NSW business affected by this current lockdown.
Business NSW has been working closely with both the State and Federal Governments over the past week on this package, particularly around what more could be done for business owners to retain their employees. It’s great to see this package rolled out that will see businesses keeping their doors open and staff keeping their jobs.
The package includes:
- The extension of the existing NSW Business Grants package for a third lockdown week.
- A cash boost for businesses across NSW
- $1500 fortnightly grants for micro businesses
- A payroll tax deferral this quarter for all businesses, and a waiver for this quarter
- Increase in the payment amount for stood down workers
- Several provisions around residential, commercial and retail leases
More information about the application processes will be available in coming days. Read on below for a summary of the support available:
Payroll Cash Boost For Businesses
This support is targeted at NSW entities, including not-for-profits,
Criteria
A cash boost for businesses across NSW with an annual turnover of between $75,000 and $50 million which can demonstrate a 30% reduction in this turnover during lockdown.
What you can claim
The cash boost will be 40% of weekly payroll with a payment of between $1500 to a maximum of $10,000 per week from week 4 of lockdown onwards, provided staffing levels are maintained.
If you are a sole trader or don’t have staff
For non-employing businesses, such as sole traders, the payment will be set at $1,000 per week.
How to claim
Businesses can register their interest from 14 July 2021 at www.servicensw.gov.au
Grants Program Extension
Grant
$1500 fortnightly grants whilst restrictions are in place
Eligibility
Micro businesses with turnover of between $30,000 and $75,000 which can demonstrate a 30% reduction in turnover where the business is the primary source of income.
Payroll Tax Waiver
A payroll tax deferral this quarter for all businesses, and a waiver for this quarter if you can demonstrate a 30% reduction in turnover and you have a payroll of between $1.2 and $10 million.
Payroll tax waivers of 25% is available, payroll tax deferrals and, interest free repayment plans.
Increased Support for Stood Down Workers and Reduced Hours
The current COVID 19 emergency payments for people who have had their hours impacted by the lockdown will change from week 4. This is funded by NSW government and Federal Government. Payments will increase to;
$375 if person has lost 8 to 20 hours pw week (up $50)
$600 if person has lost 20 hours or more pw (up $100)
The payment will also be available outside of Commonwealth-declared hotspot areas in NSW. Claimed through your MyGov account linked with Centrelink.
Rental Support
Several provisions around residential, commercial and retail leases, including no lockouts and forced evictions.
Landlords who provide rent relief will be given land tax reduction incentives.