Major new COVID-19 support package announced for NSW businesses…
The NSW Government has just announced some major new grants to help businesses and people across NSW who are impacted by the current COVID-19 restrictions.
The package includes grants of between $5,000 and $10,000 for small businesses, payroll tax deferrals for all employers, an extension of the Dine & Discover program to 31 August and the ability for people to use Dine & Discover vouchers for takeaway delivered directly to their home by the venue itself.
Three different grant amounts will be available for small businesses depending on the decline in turnover experienced during the restrictions:
$10,000 for a 70% decline,
$7000 for a 50% decline and
$5000 for a 30% decline.
The small business grants would be available for sole traders and non-for-profit organisations, with expanded criteria to assist most hospitality and tourism operators hit hard by the restrictions during school holidays.
Businesses will be able to apply for the grants through Service NSW from later in July and will need to show a decline in turnover across a minimum two-week period after the commencement of major restrictions on June 26.
* Small Business COVID-19 Support Grant. Available to businesses and sole traders with a turnover of more than $75,000 per annum but below the NSW Government 2020/21 payroll tax threshold of $1,200,000 as at 1 July 2020.
The NSW Treasurer has indicated that your application must be authorised by your Tax Accountant. You can read about the grants via this link.