Northern Rivers businesses hit hard by COVID-19 restrictions are urged to take advantage of an additional $3.9 billion in funding announced by the NSW Government.
This economic support package will provide ongoing assistance to businesses and individuals affected by current lockdown restrictions across the State.
This additional funding will extend the successful JobSaver program and Micro-business Grant and continue rent relief incentives.
Additional relief for businesses will also be provided with further reductions in payroll tax as well as allowing eligible businesses to defer their payroll tax payments, due from July 2021 through to December 2021, until the 14 January 2022 with 12-month interest free repayment plans to be available.
The NSW Government’s additional $3.9 billion funding commitment will provide:
Extension of JobSaver
- 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% of their pre-COVID-19 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% of their pre-COVID-19 weekly NSW payroll, up to $500,000 per week.
- 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% decline in turnover will be eligible for payments of up to 40 per cent of their pre-COVID-19 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
- Eligible businesses with a turnover of more than $30,000 and less than $75,000 that continue to experience a minimum 30% 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% reduction (waiver) in their 2021–22 payroll tax, up from 25%.
- 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 COVID-19 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.
A new hardship panel will also assess businesses that do not qualify for COVID-19 grants, on a case-by-case basis.
For more information go to 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.
This information was provided through the Tweed Shire Council’s Success in Tweed initiative.
