The government has released further COVID-19 support packages, designed to help business through the recent and extending June/July 2021 lockdown.
COVID support payments for NSW businesses hit by lockdowns
The government has released further COVID-19 support packages, designed to help business through the recent and extending June/July 2021 lockdown.
Whilst the finer details are yet to be clarified, the below is a summary of what has been released so far.
Federal Government measures
Cash flow boost returns
The new measure will be available from next week and will see eligible businesses receive a minimum of $1,500 and a maximum of $10,000 per week.
It will also be available to non-employing and employing entities with an annual turnover between $75,000 and $50,000,000.
Eligibility test and requirements
- Businesses will be eligible if their turnover is 30 percent lower than an equivalent two-weeks period in 2019.
- Businesses are required to maintain their full-time, part-time and long-term casual staffing levels as at 13 July 2021.
Payment rate
The payment rate will be based on 40 percent of the businesses NSW payroll payments. Non-employing businesses [including sole trades] will have their payment capped at $1,000 each week.
Prime Minister Scott Morrision has confirmed it will commence next week and will ‘continue for as long as lockdown required’
Individuals: Disaster payments rate increased
The existing COVID disaster payment has been increased.
|
Working greater than 20 hours per week |
$600 |
|
Working less than 20 hours per week |
$375 |
Eligibility requirements
- This payment is available to any employee who has lost between 8 and 20 hours per week.
- Expanded geographic area and now includes all NSW residents
Mental Health
The federal and NSW government will deliver $17.35 million in mental health support for NSW including for services through Lifeline, Headspace and Kid’s Helpline.
NSW Updated Government measures
Small Business COVID-19 Support Grant
The existing business grant program has been expanded with payments now ranging from $7,500 to $15,000.
See our detailed blog
Payroll Tax
Payroll tax waivers of 25% for businesses with Australian wages of between $1.2m and $10m.
Eligibility
- Businesses will be eligible if their turnover is 30 percent lower than an equivalent two-weeks period in 2019.
Landlord provisions
Several provisions surrounding residential, commercial and retail leases. This includes:
- No lockouts and forced evictions,
- Landlords who provide rent relief will be given land tax reduction incentives.
Residential Landlords
Residential landlords who decrease rent for affected tenants eligible for grants of up to $1,500 or land tax reductions depending on their circumstances.
Action item
Watch this space!
More details to be provided once the government has updated eligibility criteria, etc. We will be in contact with the required next steps and how H + Co can assist once all infromationon hand.
Stay positive and stay Safe
All the best
Craig, Greg & the team at H+Co
