NSW Government announces additional major grants package
On Tuesday 29 June the NSW Treasurer Dominic Perrottet announced a major grants package for businesses affected by the recent COVID-19 outbreak and ensuing two week lockdown.
The lockdown is expected to wipe $2b off Australia’s GDP. In response, the Government will release grants between $5,000 and $10,000 for small businesses and additional payroll tax deferrals for all employers.
The grants are split into two streams to cover small businesses as well as tourism providers impacted by the lockdown over the school holiday break.
Businesses can apply for grants through Service NSW later in July, and will need to show a decline in turnover across a minimum two-week period after restrictions commenced on June 26.
|
Decline in revenue (%) |
Grant available |
|
70% |
$10,000 |
|
50% |
$7,000 |
|
30% |
$5,000 |
If you have any concerns regarding your circumstances please contact your client manager on (02) 8543 6800 or email them directly.
