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Economic support measure
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Summary of Government assistance
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NSW 2021 business grant
Administered by Service NSW at service.nsw.gov.au with registrations open from 19 July, 2021.
The Federal Government has indicated that these payments will not be taxable.
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Eligible NSW businesses (including sole traders and not-for- profit organisations) with Australian wages below $10 million can claim grants between $7,500 and $15,000 as a result of the COVID-19 restrictions.
Three different grant amounts will be available depending on the decline in turnover experienced during the restrictions, being:
- $7,500 for a decline of 30% or more;
- $10,500 for a decline of 50% or more; or
- $15,000 for a decline of 70% or more.
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Saving Jobs – NSW small and medium business support payments
Administered by Service NSW
at service.nsw.gov.au
The Federal Government has indicated that these payments will not be taxable.
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Eligible NSW businesses with an annual turnover of between $75,000 and $50 million that can demonstrate a 30% reduction in turnover (compared to an equivalent two- week period in 2019) will be entitled to business support payments from week four of the lockdown.
Eligible entities will receive 40% of their NSW payroll payments, at a minimum of $1,500 and a maximum of
$10,000 per week.
Assistance will cease when the current lockdown restrictions are eased, or when the Commonwealth hotspot declaration is removed.
To receive the payment, entities will be required to maintain their full time, part time and long-term casual staffing level as of 13 July 2021.
For non-employing businesses (e.g., eligible sole traders) the payment will be set at $1,000 per week.
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Micro business grants
Administered by Service NSW
at service.nsw.gov.au
The Federal Government has indicated that these payments may not be taxable.
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Eligible ‘micro businesses’ (including sole traders) with a turnover of between $30,000 and $75,000 that have experienced a decline in turnover of at least 30% will be eligible for payments of $1,500 per fortnight of restrictions from late July 2021.
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NSW Payroll concessions
Administered by Revenue NSW at revenue.nsw.gov.au
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NSW payroll tax concessions include:
- Payroll tax waivers of 25% for businesses with grouped Australian wages of between $1.2 million and
$10 million that have experienced a 30% decline in turnover.
Payment deferrals and interest-free repayments.
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NSW Land tax concessions
Administered by Revenue NSW at revenue.nsw.gov.au
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NSW Land tax relief concessions include:
- Land tax relief equal to the value of rent reductions provided by commercial, retail and residential landlords to financially-distressed tenants is available for up to 100% of the 2021 NSW land tax year liability
A capped grant up to $1,500 for residential landlords who are not liable to pay land tax who reduce rent for tenants.
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Short-term eviction moratorium and other tenant safeguards
More information available at Fair Trading NSW at fairtrading.nsw.gov.au
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The NSW Government will introduce a short-term eviction moratorium for rental arrears where a residential tenant suffers loss of income of 25% due to COVID-19 and meets other eligibility criteria.
In addition, it will restrict recovery of security bonds, lockouts or evictions of impacted retail and commercial tenants prior to mediation.
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Targeted industry support
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Other targeted industry support measures include:
- The 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 (administered by Create NSW).
A $26 million package for the accommodation sector.
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COVID-19 Disaster Payment
Support for individuals
Administered by Services Australia at servicesaustralia.gov.au
This payment is assessable income to the individual recipient.
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The COVID-19 Disaster Payment was originally introduced in response to the previous two-week Victorian lockdown (and was made applicable to all future Commonwealth-declared COVID-19 hotspots). The payment is not applicable for the first seven days of an eligible lockdown (i.e., it is payable to eligible recipients from the second week) and now, in response to the current NSW lockdown, the Federal Government has extended this support for individuals who have lost work (and pay) as a result of the COVID-19 lockdowns.
Specifically, from week four of the lockdown, the COVID-19 Disaster Payment will increase:
- from $500 to $600 each week if a person has lost 20 hours or more of work a week; or
- from $325 to $375 each week if a person has lost between 8 and 20 hours of work (or a full day of their usual work hours per week).
This will be a recurring payment for approved recipients for as long as the Commonwealth-declared hotspot and lockdown restrictions remain in place. Furthermore, from 18 July 2021, this payment will be available to eligible NSW residents outside Commonwealth-declared hotspots (which will be funded directly by the NSW Government).
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