Struggling businesses crippled by NSW’s Covid lockdown gains support

JobSaver extension from August 28th

Eligible companies with revenues between $75,000 to $250 million that continue to experience a revenue decline of at least 30 percent as a result of the Public Health Ordinance are eligible to receive payments up to 40 percent of their pre-COVID NSW weekly payroll;

Eligible businesses in the hospitality, tourism and recreational sectors with revenues over $250 million and up to $1 billion that continue to experience the required revenue decline as a result of the Public Health Order are eligible to receive payments of 40 percent of their pre-COVID weekly NSW payroll, up to $500,000 per week;

Eligible nonprofits (NFP) in the social support and animal welfare industries with revenues between $75,000 and $250 million that show a revenue decline of at least 15 percent are eligible to receive payments up to 40 percent of their pre-COVID weekly NSW payroll. Eligible NFPs can apply for access to retroactive payments beginning later in September.

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

Eligible companies with revenues greater than $30,000 and less than $75,000 that continue to experience at least a 30 percent decline in sales as a result of the Public Health Order are eligible to receive a biweekly payment of $1,500.

Extension of deferment and exemptions from payroll taxes

Companies eligible for a 2021 COVID-19 Business Grant or JobSaver with a salary of $10 million or less are eligible for a 50 percent discount (exemption) from their 2021-22 payroll taxes, up 25 percent .

From July 2021, all entrepreneurs can further postpone the payroll tax due until December 2021. The payments are now only due on January 14, 2022 and there will be interest-free repayment plans for 12 months.

Expanding support for commercial, retail and residential landlords

Eligible commercial and retail landlords who provide rent exemptions to tenants affected by COVID-19 and who have not applied for a land tax exemption are eligible for a monthly grant of up to $3,000; and

Eligible homeowners can choose between requesting a land tax reduction or further payment of $1,500, bringing the total aid up to a maximum of $4,500 per lease if they agree to pay the rent for COVID-19 to reduce affected tenants by at least $4,500

Source: NSW government

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