The following information is a summary of the current financial support measured offered by both the NSW and Federal Government.
Every business is different, and employee arrangements vary, so speak with your accountant to determine the most relevant support package for your individual circumstances.
We will continue to update this page with the latest information, as it is released from government.
What support is available?
NSW business grants program extended
The business grants program announced earlier this month has been extended. This means eligible businesses with Australian wages below $10 million can claim grants between $7,500 and $15,000 to cover the first three-weeks of restrictions. The grant can be used for business expenses such as rent, utilities and wages, for which no other government support is available.
Three different grant amounts will be available depending on the decline in turnover experienced during the restrictions:
- $7,500 for a decline of 30% or more
- $10,500 for a decline of 50% or more
- $15,000 for a decline of 70% or more.
The COVID-19 Business Grant provides support for businesses that experienced reduced demand or had to close due to the public health orders. It provides cash flow support for the first 3 weeks of the restrictions (26 June 2021 to 17 July 2021).
All eligible businesses, including those outside of Greater Sydney, who can demonstrate that they experienced a decline in turnover of 30 per cent or more between 26 June 2021 to 17 July 2021 are encouraged to apply for the COVID-19 Business Grant.
Eligible businesses that are still being financially impacted by COVID-19 restrictions can also apply for JobSaver support. The eligibility requirements for JobSaver are largely aligned to the COVID-19 Business Grant.
A new hardship panel will also assess businesses that do not qualify for COVID-19 grants, on a case-by-case basis. Further details about the hardship panel will be made available on nsw.gov.au in the coming weeks.
For more information about the 2021 COVID-19 support package visit nsw.gov.au
JobSaver Employee Retention Scheme
If you’re a business, sole trader or not-for-profit organisation in NSW and you’ve been impacted by the recent COVID-19 restrictions, you may be eligible for the 2021 COVID-19 JobSaver payment.
JobSaver will provide cash flow support to impacted businesses to help maintain their NSW employee headcount on 13 July 2021.
Eligible businesses and not-for-profit organisations with employees will receive fortnightly payments backdated to cover costs incurred from week 4 of the Greater Sydney lockdown (from 18 July 2021 onwards).
The payment will be equivalent to 40% of the weekly payroll for work performed in NSW:
- minimum payment will be $1,500 per week
- maximum payment will be $10,000 per week.
Weekly payroll should generally be determined by referring to the most recent Business Activity Statement (BAS) provided to the Australian Taxation Office (ATO) before 26 June 2021 for the 2020-21 financial year.
If you’re a non-employing business, such as a sole trader, you may be eligible to receive a payment of $1,000 per week.
Updates to JobSaver Employee Retention Scheme
- 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-19 weekly NSW payroll.
- Eligible hospitality, tourism and recreation businesses with a turnover of more than $250 million and up to $1 billion that continue to experience the required 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.
- Eligible charitable 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 and less than 30 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.
- From 10 September 2021, eligible businesses and NFPs will need to log in to their Business Profile from their MyServiceNSW Account every fortnight to reaffirm they continue to experience at least the minimum decline in turnover and have maintained their employee headcount, to continue receiving fortnightly JobSaver payments. Check your eligibility and apply for JobSaver which is now extended until 2 October 2021.
Ongoing support available via JobSaver for businesses receiving the COVID-19 Business Grant The NSW Government has extended the deadline for applications for the COVID-19 Business Grant until 11:59pm on 1 October 2021.
Micro Business Grants
If you’re a micro-business (small business, sole trader or not-for-profit organisation with aggregated annual turnover between $30,000 and $75,000) impacted by the recent COVID-19 restrictions, you may be eligible to apply for a fortnightly payment of $1,500 to cover business expenses for the duration of the Greater Sydney lockdown.
Updates to Micro Business Grant
COVID-19 Micro-business support grant
- 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 until 2 October 2021.
- From the week of 13 September 2021, eligible businesses will need to log into their Business Profile from their MyServiceNSW Account every fortnight to reaffirm they continue to experience at least the minimum decline in turnover and have maintained their employee headcount, to continue receiving fortnightly payments.
- Check your eligibility and apply for the COVID-19 Micro-business support grant
COVID-19 disaster payment for individuals and households
The payment for stood down workers will increase from $600 to $750 per week for those who have lost more than 20 hours. Workers who have lost between 8 and 20 hours, will be eligible for $450 a week. The means test for this payment has also been taken away.
To apply visit the Services Australia website.
Payroll tax deferrals and waivers
- Businesses eligible for a 2021 COVID-19 Business Grant or JobSaver with payrolls of $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.
- All businesses will also be able to further defer payroll tax payments due from July 2021 through to December 2021. The payments are now due on 14 January 2022, and 12-month interest free repayment plans will become available.
- For more information visit Revenue NSW
Commercial, retail, and residential landlords
- Eligible commercial and retail landlords who face financial hardship by providing rental waivers to COVID-19 impacted tenants, and who have not claimed land tax relief, will be eligible for a monthly grant of up to $3,000.
- 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.
- Find out more about support for residential and commercial landlords and tenants
Land tax relief
Land tax relief has also be introduced, equal to the value of rent reductions provided by commercial, retail and residential landlords, up to 100 per cent of the 2021 land tax year liability.
Mediation requirements for landlords
Landlords are required to participate in mediation before taking actions to evict or lock out tenants. Small business tenants or landlords requiring mediation over their retail or commercial lease can contact the NSW Small Business Commission. Read about the Commission’s mediation service.
Performing arts and accommodation sectors
A $75 million support package for the performing arts sector will be administered by Create NSW, to help arts businesses forced to cancel live events due to restrictions. Applications will open on the Create NSW website from 23 July.
Accommodation sector
A $26 million support package will be available for the accommodation sector. Details of the package will be released soon.
