If your business has been adversely impacted by the recent lockdown in NSW, support is available.
The NSW and Federal Governments have announced a series of new measures to support business during extended lockdowns of four weeks or more.
You can streamline the process of applying for business support by ensuring:
The previously announced small business grants have been increased to up to $15,000 and expanded to eligible businesses (including not-for-profits and sole traders) with annual wages of up to $10 million.
The value of the grant is determined by the impact of the lockdown on your turnover. Your business will need to prove a decline in turnover across a minimum 2 week period after the commencement of the major restrictions.
|
Decline in turnover |
Grant |
|
70%+ |
$15,000 |
|
50% or more |
$10,500 |
|
30% or more |
$7,500 |
Applications are made online through ServiceNSW. Applications close at 11:59pm on 13 September 2021.
The 2021 COVID-19 business grant is available if you:
GST concepts are used in determining whether the business has suffered a decline in turnover of at least 30%.
Businesses that are not able to meet all the eligibility criteria can still potentially qualify for the grant, but it will normally be necessary to contact Service NSW to discuss the situation before applying.
Non-employing businesses such as sole traders are not eligible to apply if persons associated with the business, and who derive income from it, have applied for, or are receiving, the Commonwealth COVID-19 Disaster Payment.
We can work with you to help assess your eligibility and apply for the grant!
A cashflow payment between a minimum of $1,500 and maximum of $10,000 per week based on 40% of the NSW payroll payments of your business (including not-for-profits).
Businesses without employees that meet the eligibility criteria such as sole traders, will be able to access a payment of $1,000 per week.
The cashflow support will cease when lockdown restrictions are eased or when the Commonwealth hotspot declaration is removed.
The cashflow support payments will be made weekly.
Applications for the cashflow support have not yet opened but you can register your interest through ServiceNSW
A new grant for micro businesses (including sole traders) providing $1,500 per fortnight while lockdown restrictions apply. The grants are available from week one of the lockdown until restrictions are eased.
Applications for the cashflow support have not yet opened but you can register your interest through ServiceNSW.
NSW payroll tax has been deferred for July and August 2021 until 7 October 2021 for all businesses.
The due date for the 2020-21 annual reconciliation has also been deferred until 7 October 2021.
Previous payroll tax deferrals and payment arrangements for 2020-21 due in July 2021 have not been deferred.
Businesses with Australian wages of between $1.2 million and $10 million that have experienced a 30% decline in turnover, will be provided with a 25% payroll tax waiver in 2021-22. Further details of the reduction will be available by the end of August from RevenueNSW.
Commercial and retail rent protections will be reinstituted.
Legislative amendments will be introduced shortly providing a short-term eviction moratorium for rental arrears where a residential tenant suffers loss of income of 25% due to COVID-19 and meets certain other criteria. The moratorium applies to tenants with an annual turnover of $50 million or less.
Commercial and retail landlords will need to attempt mediation before recovering a security bond, or locking-out or evicting a tenant impacted by Public Health Orders.
Land tax relief equal to the value of rent reductions provided by commercial, retail and residential landlords to financially distressed tenants will be available for up to 100% of the 2021 land tax liability.
See Residential Tenancies Moratorium Application for rent negotiation.
A $75 million support package will be provided to the performing arts sector to be administered by Create NSW.
The package will be delivered in two stages:
Eligible organisations include performing arts organisations with heavy reliance on box office income, including not-for-profit performing arts companies who were staging, or scheduled to stage performances during the lockdown period, commercial producers and some live music venues.
Organisations will need to provide evidence of performances scheduled, venues and average ticket prices.
CreateNSW will open applications from 23 July 2021.
A $26 million support package for eligible tourism accommodation providers that have lost business during the school holiday period. Assistance will be based on the number of cancelled ‘room nights’ of:
To be eligible, you will need to be able to show evidence of cancellations for lost room nights between 25 June and 11 July 2021.
All businesses paying hotel or club gaming machine tax will be able to defer the taxes for the 2021-22 financial year:
Updated 20 July 2021
If you'd like help with an application, or any further information on the NSW Business Lockdown Support payments, please contact us today.
The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.