COVID Economic Support Measures Extended To Assist Small Businesses and Individuals

Member for Kiama Gareth Ward MP has today reminded local small businesses and residents of the suite of COVID-19 economic support measures available to them.

Mr Ward has welcomed the NSW Government’s additional $3.9 billion funding, including $1.5 billion from the Commonwealth, which is providing ongoing assistance to small businesses and individuals affected by current lockdown restrictions across our region.

“This further $3.9 billion in ongoing support will be vital to help keep local small businesses across the Kiama electorate in business and keep local people in jobs,” Mr Ward said.

Extension of JobSaver from 28 August

• Eligible businesses with a turnover between $75,000 to $250 million that continue to experience a minimum 30 per cent decline in turnover due to the Public Health Order will be eligible for payments of up to 40 per cent of their pre-COVID weekly NSW payroll;
• Eligible businesses in the hospitality, tourism and recreation sectors with a turnover of more than $250 million and up to $1 billion that continue to experience the requisite decline in turnover due to the Public Health Order will be eligible to receive payments of 40 per cent of their pre-COVID weekly NSW payroll, up to $500,000 per week; and
• Eligible Not-for-Profit (NFP) organisations in the social support and animal welfare sectors with a turnover between $75,000 and $250 million that show a minimum 15 per cent decline in turnover will be eligible for payments of up to 40 per cent of their pre-COVID weekly NSW payroll. Eligible NFPs will be able to apply from later in September to access backdated payments.

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

• Eligible businesses with a turnover of more than $30,000 and less than $75,000 that continue to experience a minimum 30 per cent decline in turnover due to the Public Health Order will be eligible for a fortnightly payment of $1,500.

Extension of payroll tax deferrals and waivers

• Businesses eligible for a 2021 COVID-19 Business Grant or JobSaver with payrolls $10 million or less will be eligible for a 50 per cent reduction (waiver) in their 2021-22 payroll tax, up from 25 per cent; and
• All businesses will also be able to further defer payroll tax payments due from July 2021 through to December 2021. The payments will now not be due until 14 January 2022, and 12-month interest free repayment plans will become available.

Extension of support for commercial, retail, and residential landlords

• Eligible commercial and retail landlords that provide rental waivers to COVID19 impacted tenants and have not claimed land tax relief, will be eligible for a monthly grant of up to $3,000; and
• Eligible residential landlords can choose between applying for land tax relief or a further payment of $1,500, taking total assistance to a maximum of $4,500 per tenancy if they agree to reduce the rent for COVID-19 impacted tenants by at least $4,500.

For more information on the 2021 COVID-19 Support Package, please visit: https://www.nsw.gov.au/covid-19/2021-covid-19-support-package.

Support for individuals impacted by the current COVID-19 restrictions and stay-at-home orders is also available through Services Australia. For more information, please visit: www.servicesaustralia.gov.au/covid19.