NSW government announces new business support measures with grants of up to $10,000
The NSW government has announced new measures aimed at assisting businesses impacted by the state’s lockdown.
The NSW government has announced a raft of new measures to assist businesses impacted by lockdown and to be brought in across the state.
Grants of up to $10,000 will be available for small businesses and hospitality venues which have seen a reduction in turnover because of the shutdown sparked by the Bondi Delta variant cluster.
The Berejiklian government also extended its Dine and Discover vouchers to August 31 and will now include take away services.
Businesses which have seen a reduction in turnover of more than 70 per cent will be eligible for grants of $10,000, while firms incurring a 50 per cent decline can access a $7000, while falls of 30 per cent will be able to receive $3000.
NSW Premier Gladys Berejiklian said the package is designed to assist businesses which are suffering from cash constraints.
“We always said we will do whatever it takes to support businesses and keep people in jobs during the pandemic and that is exactly what we are doing,” Ms Berejiklian said.
“The current restrictions are in place to protect people and keep the community safe, unfortunately businesses continue to incur costs such as rent, power and lost produce, and this will go some way to lessening that financial pain.”
The scheme is split up into the Small Business Covid-19 Support Grant and the Hospitality and Tourism Covid-19 Support Grant.
The small business scheme is available to businesses or sole traders with a turnover of more than $75,000 per annum and below the NSW Government 2020-21 payroll tax threshold of $1.2 million as at July 1, 2020.
Firms must have fewer than 20 full-time staff or equivalent and an Australian Business Number (ABN) registered in NSW, or show primary operations are based in the state.
The scheme for hospitality and tourism operators can be accessed for traders with a turnover of more than $75,000 and an annual wages bill below $10 million as at July 1, 2020. An ABN in NSW is also required, or evidence operations are primarily located in the state.
NSW treasurer Dominic Perrottet said the package is to ensure businesses can retain workers during the economic setback caused by the two-week lockdown.
“We are deploying our fiscal firepower when it matters, by helping small businesses stay in business and keep people in jobs,” he said.
The schemes will be available through Service NSW.
Mr Perrottet also noted $11 million would be set aside for people at risk of homelessness, including vulnerable temporary visa-holders, asylum seekers and refugees.
The option of deferral payroll taxes due in July and the hotel gaming machine tax will also be provided on a case-by-case basis.
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