The NSW Government has announced a significant new grants package to assist small businesses impacted by the current COVID-19 restrictions.
The package includes grants between $5000 and $10,000 for small businesses, payroll tax deferrals for all employers, an extension of the Dine & Discover program to 31 August, and people’s ability to use Dine & Discover vouchers for takeaway delivered directly to their home by the venue.
Three different grant amounts will be available for small businesses depending on the decline in turnover experienced during the restrictions. $10,000 is available for businesses who have experienced a 70% decline, $7000 for a 50% decline and $5000 for a 30% decline.
Businesses will be able to apply for the grants through Service NSW from later in July. They will need to demonstrate a decline in turnover across a minimum two-week period after the commencement of restrictions on 26 June.
The grants will be divided into two streams:
1. Small Business COVID-19 Support Grant.
Available to businesses and sole traders with a turnover of more than $75,000 per annum but below the NSW Government 2020/21 payroll tax threshold of $1,200,000 as of 1 July 2020.
These businesses must have fewer than 20 full time equivalent employees and an Australian Business Number (ABN) registered in New South Wales or be able to demonstrate they are physically located and primarily operating in New South Wales.
2. Hospitality and Tourism COVID-19 Support Grant
Available to tourism or hospitality businesses with a turnover of more than $75,000 and an annual Australian wages bill of below $10 million, as of 1 July 2020.
These businesses must have an Australian Business Number (ABN) registered in New South Wales or demonstrate they are physically located and primarily operating in New South Wales.
The full criteria for both grant streams will be available in the coming days on the Service NSW website. Applications will commence from Monday 19 July.
To prepare and avoid delays in completing your application, NSW Government recommends to:
- Ensure your business and contact details are up to date with the Australian Business Register (ABR)
- Ensure your personal, contact and business are up to date in your My Service NSW Account and your business profile
- If you don’t have one, create a My Service NSW Account and business profile.
In addition to these available grants, the NSW Government and Commonwealth have agreed to co-fund a new payment for businesses which is expected to assist businesses employing more than 3 million employees based in NSW.
Business with an annual turnover of between $75,000 and $50,000 million that have experienced 30 percent lower than an equivalent two weeks in 2019 will receive between $1,500 and $10,000 per week. On the proviso they maintain their current staffing levels.
The exact amount will be calculated as 40% of the businesses NSW payroll payments. It will also include sole traders with a flat payment of $1,000 per week.
Businesses can register their interest in the payments on the Service NSW website as of 14 July 2021.
NSW businesses with a turnover of between $30,000 and $75,000 can now claim a $1,500 fortnightly payment throughout the lockdown if they have experienced a reduced turnover.
Additional support available includes:
Administrative relief to NSW taxpayers
NSW tax payers can receive reduce payment plans for money outstanding to the Government with no interest charged on late payments.
Incentives for residential landlords
Landlords will be offered incentives to reduce rent for affected tenants and a 60-day eviction moratorium for people who fail to pay their rent after losing at least 25% of their income due to COVID-19.
Service NSW COVID-19 Assistance Finder
Business owners experiencing difficulties due to COVID-19 can find the benefits, rebates and concessions available to them using the Service NSW COVID-19 Assistance Finder. The online tool lists the options for financial support best suited to your circumstances.
Jobs Plus Program
If you want to enter or expand your business in NSW by starting a project that will create jobs, Jobs Plus could help reduce your company’s costs and financial risks while strengthening the local economy.
Jobs Plus is open to businesses that create at least a net growth of 30 new full-time equivalent (FTE) jobs as part of a business project in NSW before 30 June 2024.
Companies must apply for Jobs Plus and start hiring new staff before 30 June 2022. All new staff must also live, and be paid, in NSW.
The program also provides:
- A Jobs Plus Concierge Service team to assist in navigating agencies, programs and application requirements
- Employers will get tax relief on wages paid to staff for every new FTE job created when a business has created 30 new jobs
- A rebate for the cost of providing training, apprenticeships or internships to NSW residents
- Rebates for approval projects. The cost of connecting the new project to shared infrastructure. For example, to build new roads, utilities, data facilities, telecommunications, information technology, workspaces and capital equipment
- Access to subsidised, short-term Government accommodation and spaces
- Assistance with planning approvals in NSW: Help with finding suitable sites and managing applications and relationships with the NSW Department of Planning, Industry and Environment
Small and medium exporters in NSW will benefit from the $12 million Going Global Support program to create jobs and support the regions. The package includes assistance grants for exporters, tailored workshops and opportunities to explore new markets.
Export Assistance Grants of up to $10,000 are available for up to 1,000 export ready or export capable NSW businesses, helping them access new markets or re-enter old ones where business has ceased.
Financial counselling for small businesses in regional areas
The Australian Government has committed more than $4.7 million to provide small regional businesses affected by COVID-19 with access to free and confidential financial counselling. Regional small businesses can register their interest by calling 1300 771 741.
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