COVID-19 economic support measures extended for NSW

The Treasurer, Minister for Digital, Minister for Customer Service, Minister for Finance and Small Business in NSW announced on September 2 an additional $3.9 billion in funding (including $1.5 billion from the Commonwealth) as part of their COVID-19 economic support package. This will provide ongoing assistance to businesses and individuals who are affected by the current NSW lockdown.

The funding will extend the JobSaver program and Micro-business Grant and continue rent relief incentives.

The government will provide additional relief for businesses with further reductions in payroll tax and for eligible businesses to defer payroll tax payments with a 12-month interest-free repayment plan.

The Treasurer Dominic Perrottet said this further $3.9 billion in ongoing support would be vital to help keep businesses in business and people in jobs. Giving businesses, employees and families the certainty that financial assistance is accessible. Giving businesses, employees and families ongoing support to help them get through the pandemic and provide them with a springboard once restrictions ease, from lockdown to recovery.

The NSW Government’s additional $3.9 billion funding commitment will provide: 

Extension of JobSaver from 28 August

• Eligible businesses with a turnover between $75,000 to $250 million that continue to experience a minimum 30 per cent decline in turnover due to the Public Health Order will be eligible for payments of up to 40 per cent of their pre-COVID weekly NSW payroll.
• Eligible businesses in the hospitality, tourism and recreation sectors with a turnover of more than $250 million and up to $1 billion that continue to experience the requisite decline in turnover due to the Public Health Order will be eligible to receive payments of 40 per cent of their pre-COVID weekly NSW payroll, up to $500,000 per week.
• Eligible Not-for-Profit (NFP) organisations in the social support and animal welfare sectors with a turnover between $75,000 and $250 million that show a minimum 15 per cent decline in turnover will be eligible for payments of up to 40 per cent of their pre-COVID weekly NSW payroll. Eligible NFPs will be able to apply from later in September to access backdated payments.

Extension of the COVID-19 Micro-business Grant from 28 August 

• Eligible businesses with a turnover of more than $30,000 and less than $75,000 that continue to experience a minimum 30 per cent decline in turnover due to the Public Health Order will be eligible for a fortnightly payment of $1,500.

Extension of payroll tax deferrals and waivers

• Businesses eligible for a 2021 COVID-19 Business Grant or JobSaver with payrolls $10 million or less will be eligible for a 50 per cent reduction (waiver) in their 2021-22 payroll tax, up from 25 per cent.
• All businesses will also be able to further defer payroll tax payments due from July 2021 through to December 2021. The payments will now not be due until 14 January 2022, and 12-month interest-free repayment plans will become available.

Extension of support for commercial, retail, and residential landlords

• Eligible commercial and retail landlords that provide rental waivers to COVID-19 impacted tenants and have not claimed land tax relief, will be eligible for a monthly grant of up to $3,000; and 
• Eligible residential landlords can choose between applying for land tax relief or a further payment of $1,500, taking total assistance to a maximum of $4,500 per tenancy if they agree to reduce the rent for COVID-19 impacted tenants by at least $4,500.

For more information on the 2021 COVID-19 Support Package visit the  2021 COVID-19 Support Package page.

Support for individuals impacted by the current COVID-19 restrictions and stay-at-home orders is also available through Services Australia. For more information visit Services Australia.