The NSW and Federal Governments have announced a series of new measures to support business during extended lockdowns of four weeks or more which now apply to NSW.
Financial Supports for NSW COVID-19 Outbreak
2021 COVID-19 Business Grant of up to $15,000
The previously announced small business grants have been increased to up to $15,000 and expanded to eligible businesses (including not-for-profits and sole traders) with annual wages of up to $10 million.
The value of the grant is determined by the impact of the lockdown on your turnover. Your business will need to prove a decline in turnover across a minimum 2 week period after the commencement of the major restrictions.
| Decline in turnover | Grant |
|---|---|
| 70%+ | $15,000 |
| 50% or more | $10,500 |
| 30% or more | $7,500 |
Eligibility
- Have an active Australian Business Number (ABN)
- Demonstrate your business was operating in NSW as at 1 June 2021
- Have had total annual Australian wages of $10 million or less as at 1 July 2020
- Have had an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2020
- Have business costs for which there is no other government support available
- Maintain your employee headcount as at 13 July 2021.
Calculating turnover eligibility & obtaining an accountant’s letter
To apply for the grant, Service NSW will require a calculation of your turnover to determine what payment you are eligible for. At Saige we are asking clients to prepare the following information to help us assess eligibility entitlements and generate the required letter to support your application.| What is required | Dates | Value |
|---|---|---|
| Turnover for a minimum 14-day consecutive period between 26 June and 26 July 2021 inclusive. | [insert your dates used to calculate turnover] | [insert turnover] |
| Turnover for a minimum 14-day consecutive period between 26 June and 26 July 2019 inclusive | [insert your dates used to calculate turnover] | [insert turnover] |
| Decline in turnover (%) | [% decline in turnover] |
How to apply
- Applications are now open through Service NSW
'JobSaver' Cashflow Support of up to $100,000
JobSaver is the name given to the cashflow boost payment valued from $1,500 to $100,000 per week based on 40% of the NSW payroll payments of your business (including not-for-profits).
Businesses without employees that meet the eligibility criteria such as sole traders, will be able to access a payment of $1,000 per week.
The cashflow support will cease when lockdown restrictions are eased or when the Commonwealth hotspot declaration is removed.
Eligiblilty
- An annual turnover between $75,000 and $250 million
- Demonstrate a 30% decline in turnover
- Maintain your full time, part time and long term casual staffing level as of 13 July 2021
- Impacted by the current Greater Sydney COVID-19 restrictions
- Are not receiving the Federal Government Disaster payment
How to apply
Applications for the cashflow support are now open. Apply online at Service NSW.
$1,500 Micro Business Grants
A new grant for micro businesses (including sole traders) providing $1,500 per fortnight while lockdown restrictions apply. The grants are available from week one of the lockdown until restrictions are eased.
Eligibility
- Annual turnover of more than $30,000 and less than $75,000
- Demonstrate a 30% decline in turnover
- Maintain your employee headcount (for employing businesses).
- Impacted by the current Greater Sydney COVID-19 restrictions
- Are not receiving the Federal Government Disaster payment
- Have not applied for either the NSW COVID business grant or JobSaver.
How to apply
Applications for the micro business grants are now open. Apply online at Service NSW.
Payroll tax deferrals and a 25% payroll tax waiver
Payroll tax waivers of 25% for businesses with Australian wages 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.
Rent protections and Landlord grants
Tenants who can’t pay their rent in full because they are impacted by the recent COVID-19 outbreak can’t be evicted between now and 11 September 2021.
To support landlords, residential landlords who decrease rent for impacted tenants can apply for a grant of up to $1,500 or land tax reductions depending on their circumstances. The land tax relief will be equal to the value of rent reductions provided by landlords to financially distressed tenants, up to 100 per cent of the 2021 land tax year liability.
$75 million stimulus package for performing arts and live music sector
The NSW Government has announced a $75 million package for not-for-profit and commercial performing arts organisations, and live music organisations impacted by the cancellation of shows due to current COVID-19 restrictions.
The package will be delivered in two stages:
- Immediate support to provide relief to eligible organisations who were staging performances during the period covered by the Public Health Orders.
- Funding available to support eligible organisations to reschedule performances once it is safe for restrictions to ease.
This package is intended to assist performing arts organisations and live music venues to continue paying staff and performers, and provide support for loss of box office income where shows have been affected by Public Health Orders.
Eligibility
Eligible organisations include performing arts organisations with heavy reliance on box office income, including not-for-profit performing arts companies who were staging, or scheduled to stage performances during the lockdown period, commercial producers and live music venues.
Organisations will need to provide evidence of performances scheduled, venues and average ticket prices.
How to apply
Applications are now open on the Create NSW website.
Please stay tuned to this page for the latest updates to NSW COVID-19 support grants, eligibility criteria and application process.
