On 29 June 2021, NSW Treasurer Dominic Perrottet announced several key support measures for small businesses affected by the current two-week lockdown. While the fine print is yet to be announced, here are the details so far:
Three categories of grants
- Businesses with a revenue decline of 70% across a minimum two-week period, starting from June 26, will receive $10,000.
- Businesses with a revenue decline of 50% across a minimum two-week period, starting from June 26, will receive $7,000.
- Businesses with a 30% revenue decline, across a minimum two-week period, starting from June 26 will receive $5,000.
Eligibility
To be eligible, you must satisfy the following criteria:
Stream 1
- Businesses and sole traders with annual turnover above $75,000 but below the payroll tax threshold of $1.2 million, as of 1 July, 2020.
- Fewer than 20 full-time employees
- Primarily operate in NSW or have an Australian Business Number registered in NSW.
Stream 2
- Hospitality and tourism businesses with an annual turnover above $75,000, but below $10 million.
- Primarily operate in NSW or have an ABN registered in NSW.
The grants will be available to all businesses located in NSW, not just Sydney.
Grant payments will be available
Grant payments will be available from 19th July. The full criteria for applications will be available in the coming days on the Service NSW website.
Additional relief
Payroll tax liabilities due in July 2021 can be deferred, along with gaming machine tax liabilities for hotels.
Dine & Discover Extended
Dine & Discover vouchers will be extended until the end of August.
Our team will stay on top of the details of this support package, and we will be in touch once the full criteria have been advertised.
You can read the Treasurer’s Media Release here.
