As you may have heard the NSW Government announced a number of relief measures on 13 July 2021, including a number of measures to assist NSW businesses.
The key business relief measures are summarised as follows:
• Business Grants Program – Grants of between $7,500 – $15,000 for businesses:
a) with wages of up to $10million;
b) who have been affected by the current Greater Sydney COVID-19 restrictions; and
c) can demonstrate a decline in turnover of 30% or more.
Applications open on 19 July 2021: 2021 COVID-19 business grant | Service NSW
• Micro business grant – Payments of $1,500/fortnight for micro businesses (turnover between $30,000 – $75,000) who have been impacted by the current Greater Sydney health restrictions.
• Payroll Tax waiver – 25% waiver of payroll tax for businesses with Australian wages between $1.2m – $10m, who suffer a decline in turnover of 30% or more.
• Landlords & tenants – a number of measures available for both landlords and tenants affected by the lockdowns, including land tax grants.
• Savings jobs – a support program funded jointly by the NSW and Commonwealth governments to maintain employment for small-medium sized businesses. Further details to be released soon.
Please contact us if you need any assistance or if you would like to discuss how these measures may apply to your business.