NSW Covid-19 business support package – registration details announced

Registration details have been announced for some elements of the NSW Government’s economic support package aimed at helping businesses and people across New South Wales. The information below highlights the support measures as well as links to apply.

Business support payment

A new business support payment will now be available to entities with an annual turnover between $75,000 and $50 million who can demonstrate a 30 per cent decline in turnover.

To receive the payment, eligible entities will be required to maintain their full-time, part-time and long-term casual staffing level as of 13 July 2021.

Eligible entities, which include not-for-profits, will receive payments of between $1,500 and $10,000 per week based on the level of their payroll.

For non-employing businesses, such as sole traders, the payment will be set at $1,000 per week.

Applications open in late July and you can register for more information here.

Business Grants

An extension to the previously announced business grants program. This means eligible businesses with Australian wages below $10 million can claim grants between $7,500 and $15,000 to cover the first three weeks of restrictions.

A new grants program for micro businesses with a turnover of 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.

You can apply for the business grants here.

Covid-19 Disaster payment

From week four of a lockdown because of a Commonwealth Government declared hotspot, the COVID‑19 Disaster Payment will increase to $600 if a person has lost 20 or more hours of work a week or $375 if a person has lost between 8 and 20 hours of work a week.

The Commonwealth and NSW Governments have also agreed that from 18 July 2021 the COVID‑19 Commonwealth Disaster Payment will be available to those outside Commonwealth-declared hotspots in NSW that meet the criteria for the payment. 

You can find out more about applying for the disaster payment here.

Payroll and land tax

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 to financially distressed tenants, up to 100 per cent of the 2021 land tax year liability.

You can find out more information here.

Commercial and residential leases

A capped grant of up to $1,500 for residential landlords who are not liable to pay land tax who reduce rent for tenants estimated at $210 million.

Introduction of legislative amendments to ensure a short-term eviction moratorium for rental arrears where a residential tenant suffers loss of income of 25 per cent due to COVID-19 and meets a range of criteria.

No recovery of security bonds, or lockouts or evictions of impacted retail and commercial tenants prior to mediation.

Other support measures

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 support package for the accommodation sector worth $26 million.

$12 million in additional funding for temporary accommodation for those at risk of or experiencing homelessness

An extra $17.35 million support package for mental health support in NSW.

For further details see:

Federal Treasurer’s Announcement – 13 July 2021

NSW State Government Treasurer’s Announcement – 13 July 2021

We will continue to monitor details related to accessing support measures and provide further information to clients as soon as we have that information.

Contact the Hopscotch Accounting team to discuss these support measures and how they will impact your NFP or business.

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