NSW Government relief packages for businesses and individuals in relation to Coronavirus
The Australian and NSW Governments have announced a major economic support package aimed at supporting businesses and individuals through the current COVID-19 lockdown.
The commitment of $5.1 billion includes more than $1 billion from the Commonwealth.
Key components of the 2021 COVID-19 package for businesses include:
- 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 “Jobsaver” employee retention scheme providing cashflow support to businesses to help them retain staff. The cash boost will be up to 40% of weekly payroll with a payment of between $1,500 to a maximum of $10,000 per week, provided staffing levels are maintained at the level as of 13 July 2021. Non-employing businesses are eligible for $1,000 per week.
- 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.
- Payroll tax waivers of 25 per cent for businesses with Australian wages bills 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, up to 100 per cent of the 2021 land tax year liability.
- A requirement on landlords to participate in mediation before taking actions to evict or lock out tenants.
- An increase in the payment amount for stood down workers from $500 to $600 per week for those who lost more than 20 hours, and to $375 for those who lost between 8 and 20 hours, and available to workers outside of the Greater Sydney lockdown areas.
- Expanded mental health services with programs targeted at young people and CALD communities.
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 get notified on existing and upcoming financial support, including:
- COVID-19 Business Grant: if you’re a business, sole trader or not-for-profit organisation impacted by the current Greater Sydney COVID-19 restrictions, you may be able to apply for a grant of up to $15,000 from 19 July 2021.
- Saving Jobs: a support program funded jointly by the NSW and Commonwealth governments to maintain employment of staff for small and medium businesses impacted by the current health restrictions.
- Micro Business Grant: if you’re a micro business (small business or sole trader with annual turnover of more than $30,000 and under $75,000) impacted by the current Greater Sydney COVID-19 restrictions, you may be able to apply for a grant of up to $1500 from late July 2021.
- Small business tenants or landlords requiring mediation over their retail or commercial lease can contact the NSW Small Business Commission. Read about the Commission’s mediation service.
To help avoid delays in completing your application:
- ensure your business and contact details are up-to-date with the Australian Business Register (ABR)
- ensure your personal, contact and business details are up-to-date in your MyServiceNSW Account and your business profile
- if you don't have one, create a MyServiceNSW Account and business profile.
To be notified when COVID-19 financial support programs are available and for further details on the Government’s support package, including eligibility, will be available at COVID business support 2021.
Financial support for individuals and households
Employee COVID-19 Disaster Payment – Employees may not need to meet any liquid assets rule to be eligible to claim payment for the period from 8 July for parts of Sydney and from 11 July for Greater Sydney. Read more on NSW eligibility criteria and general eligibility criteria.
Covid-19 financial support – Support services available if you are affected by COVID-19 and experiencing financial difficulty. Click here for details
The NSW Government may announce other grant package and changes, please click here for the latest updates from the NSW Government.
Information correct as of the 12th of July 2021.