State Government COVID Support - NSW
In response to the July 2021 extended lockdown, the Federal Government and NSW State Government have announced support measures which are jointly funded for Greater Sydney and New South Wales (NSW). This includes payments for individuals, sole traders and businesses.
Loss of work relief payments for individuals, no matter what classification, part-time or casual, from week four of the stay-at-home orders:
- A loss of eight to 20 hours - $450 per week.
- A loss of more than 20 hours - $750.
The NSW Government will cover the payment for regional NSW whilst the Federal Government will cover for greater Sydney.
Business Relief Measures
Financial support for businesses affected by the lockdown was first announced on June 29, and this program has now been rebranded as JobSaver.
a) Support Payments
- The ‘JobSaver’ payment provides business support to entities with an annual turnover between $75,000 to $250 million. Businesses who can demonstrate a decline in turnover of at least 30 per cent in the current lockdown compared to the same period in 2019, are eligible for JobSaver.
- Entities must maintain their full-time, part-time and long-term casual staffing level as of July 13, 2021 to be eligible.
- For sole traders, payments of $1,000 per week and for businesses, including not-for-profits, payments of $1,500 to $10,000 based on payroll. Sole traders who can prove their turnover has reduced by 30 per cent since 2019, will be eligible to receive a weekly $1,000 payment, backdated to July 18.
- For more, watch our webinar with BDO Partner, James Trainor, here.
b) Small Business Grants
c) Payroll 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.
Check your eligibility
If your business or Not-For-Profit organisation has been impacted by the restrictions, you may be eligible to apply from 19 July 2021. You can now check your eligibility and register for COVID-19 support payments on the NSW State Government website.
Read comments from our Sydney Office Managing Partner, Grant Saxon on the relief measures in our media release.
NSW JobSaver Scheme
Watch this hour-long webinar from BDO Partner, James Trainor, outlining the JobSaver measures, including how to apply.
If you are a NSW small-to-medium business owner or operator who has been affected by the current lockdowns, this webinar is for you.
If you require assistance accessing these payments or grants, or require any other business support, please contact your local adviser.
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