NSW and Federal Government Covid-19 Updates

By July 20, 2021Uncategorized

NSW and Federal Government Covid-19 Updates

 

NSW Government:
COVID-19 Business Grant

Businesses

30% Decline in turnover

50% Decline in turnover

70% Decline in turnover

Financial Grant

$7,500 (Tier 1)

$10,500 (Tier 2)

$15,000 (Tier 3)

Requirements:

  • Active ABN registered in NSW, OR physically located and primarily operating in NSW as at 1 June 2021

  • Annual aggregated turnover of between $75,000 and $50M incl GST in accordance with Payroll Tax Act Grouping provisions.

  • Annual wages up to $10M as at 1 July 2020

  • Incur business costs covered by no other Government support

  • Maintain employee headcount as at 13 July 2021

  • Minimum 2 weeks 30% decline in turnover between 26 June 2021 to 17 July 2021 compared with the same period in 2019

  • Only 1 grant per ABN

  • Non-employing businesses 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 e.g. Sole Traders or other businesses with no employees.

Highly impacted Industries

Declarations must be completed for Businesses listed on the Highly impacted industries list applying for Tier 1 or Tier 2, together with contact details of their Evidence* provider.

Tier 3 require Declarations for their first $10,500. Evidence* is required to receive the additional $4,500.

All other Industries

Evidence* of a decline in turnover must be submitted for Businesses not on the Highly impacted industries list

Ineligible Businesses

Application:

Open from 19th July 2021
Personal Businesses via MyServices NSW Personal
Corporate Businesses via MyServices NSW Business

Get Notified:

References:

* Evidence is defined as a letter from a Qualified Accountant, Tax Agent or BAS Agent. Alternatively contact Service NSW on 137788


NSW Government:
Micro Business Grant

Businesses

Summary

Financial Grant

$1,500 / fortnight

Requirements:

  • Annual turnover between $30,000 and $75,000 p.a.

  • Decline in turnover of 30% or more

  • ABN registered in NSW, OR physically located and primarily operating in NSW

Application:

Online from 26 July 2021, effective and backdated from week 1 lockdown

References:

References:


NSW Government:
Other Relief

Various

Summary

Payroll Tax

Waivers of 25% with Australian wages of between $1.2M and $10M that have > 30% decline in turnover. Deferrals and interest free repayment plans available

Residential Rent Relief

A capped grant of up to $1,500 for residential landlords who are not liable to pay land tax who reduce rent for tenants

Land Tax Relief

Land tax relief equal to the value of rent reductions provided by commercial, retail and residential landlords to financially distressed tenants, up to 100% of the 2021 land tax year liability. Reference

Restricted Evictions

Short-term eviction moratorium for rental arrears where a residential tenant suffers loss of income of 25% due to COVID-19 and meets a range of criteria

Retail & Commercial Rental Bonds

No recovery of security bonds, or lockouts or evictions of impacted retail and commercial tenants prior to mediation

Gaming Tax

Deferral of gaming tax assessments for clubs until 21 December 2021 and hotels until 21 January 2021. Reference

References:


Federal Government:
COVID-19 Disaster Payments

Individuals

Weekly

Weekly

Financial Grant

1st and 2nd Weeks

$325

$500

Financial Grant

3rd Week and Beyond

$375

$600

Requirements

Lost between 8 (or one day) & 20 hours work per week

Lost 20 or more hours of work per week

  • Australian resident

  • 17 years and older

  • Not getting government income support, ABSTUDY Allowance, Parental or Partner Pay

  • You live in, work from or have visited a Commonwealth declared Covid-19 hotspot (Recognised Sydney Events)

  • Hhad paid employment and can’t attend work on or after day 8 of the lockdown because of restrictions.

  • Lost income on or after day 8 of the lockdown and don’t have any appropriate COVID paid leave entitlements

Location Claim Due Dates

How to Claim

Via your myGov account linked to a Centrelink account (link)

References:


Joint NSW & Federal Government

"JobSaver Grant"

Businesses with Employees

Minimum

Maximum

Financial Grant (from 18 July 2021)

The higher of: $1,500/wk or 40% of the average weekly payroll* Paid fortnightly in arrears

$10,000/wk Paid fortnightly in arrears

Requirements:

  • Annual turnover of between $75,000 and $50M p.a

  • Active ABN and operating in NSW as at 1 June 2021 

  • Minimum 2 weeks 30% decline in turnover between 26 June 2021 to 14 August 2021 (or a date in the future the lockdown ends), compared with the same period in 2019

  • Annual Australian Wages < $10M

  • Declare and maintain Full Time, Part Time and Long-Term Casual headcount as at Tuesday 13 July 2021 that had been employed > 12months. Reduction in numbers will be required to be disclosed.

  • Non-employing businesses are not eligible for the JobSaver payment if anyone associated with the business or who derives income from it, has received a Commonwealth COVID-19 Disaster Payment since 18 July 2021.

* Determined by referring to Label W1 on the most recent Activity Statement (IAS or BAS) provided to the Australian Taxation Office (ATO) before 26 June 2021 for the 2020-21 financial year. Divide this number by the number of days in the period and multiply by 7.

Businesses without Employees

Fixed Amount

Financial Grant

$1,000/wk

Application:

Open 26th July 2021

Close 18 October 2021

Ineligible Businesses:

References:

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