NSW Government provides $3.4b funding

Key highlights

• Extending JobSaver from 28 August

  • Businesses, with a turnover between $75,000 and $250m, that experience a minimum of 30% decline in turnover due to the lockdown are eligible for payments of up to 40% of their pre-COVID weekly NSW payroll.
  • Hospitality, tourism and recreation businesses, with a turnover of over $250m and up to $1b, may also be eligible. Eligibility applies to businesses in the $250m to $500m turnover category that experienced a decline in turnover of 50%, and businesses with a turnover of $500m to $1b that experience a decline in turnover of 70%. These businesses are eligible for payments of up to 40% of their pre-COVID weekly NSW payroll, up to $500,000 per week.
  • Eligible Not for Profit (NFP) organisations with a turnover between $75,000 and $250m that experience a minimum of 15% decline in turnover due to the lockdown are eligible for payments of up to 40% of their pre-COVID weekly NSW payroll.

• Extension of the COVID-19 Micro-business Grant from 28 August

  • Eligible businesses with a turnover between $30,000 and $75,000 that experience a minimum of 30% decline in turnover can access a fortnightly payment of $1,500.

• Extension of payroll tax deferrals and waivers

  • Any business eligible for a 2021 COVID-19 Business Grant or JobSaver with payrolls up to $10m will be able to access a 50% waiver in their 2021-22 payroll tax (up from 25%).
    All businesses will be able to defer payroll tax payments due from July 2021 through to December 2021, to be due in 14 January 2022, with 12-month interest free repayment plans also available.

• Extension of rent relief for commercial, retail, and residential landlords

  • Commercial and retail landlords that provide rental waivers to COVID-19 impacted tenants, and have not claimed land tax relief, will be eligible for a monthly grant of up to $3,000.
  • Residential landlords can either apply for land tax relief or a further payment of $1,500 (up to a maximum of $4,500 per tenancy) if they agree to reduce the rent for COVID-19 impacted tenants by at least $4,500.