The NSW government has announced several grants to provide relief to businesses affected by the COVID-19 lockdowns

The NSW government has announced several grants to provide relief to businesses affected by the COVID-19 lockdowns. Full eligibility criteria and applications are still being developed by Services NSW and Services Australia. At this stage, businesses can register their interest in relief funding on the following link: https://www.service.nsw.gov.au/covid-19-business-support-2021 This will ensure that you are notified when applications are open. We will ensure we notify you when full criteria are available. In the meantime, here is a summary of what we know so far. COVID-19 Business Grant:

  • Applications open from July 19th
  • Businesses that have a turnover of at least $75,000 and wages below $10 million will be eligible
  • The grant amount will depend on the decline in turnover as follows:
  • $7,500 for a decline in turnover of 30%
  • $10,500 for a decline in turnover of 50%
  • $15,000 for a decline in turnover of 70% or more

Saving Jobs Grant:

  • Applications open from July 26th
  • Businesses that have a 30% decline in turnover will be eligible for up to 40% of their weekly payroll. Payments of $1,500 – $10,000 per week will be available
  • Businesses must be able to demonstrate that they have maintained their staffing levels as of the 13th of July
  • The payroll tax will be waived by 25% for businesses that have experienced a 30% decline in turnover due to the lockdown

Micro Business Grant:

  • Applications open from late July (no date announced)
  • Small businesses or sole traders affected by the lockdown will be eligible to apply for up to $1,500 per fortnight
 

Micro Business Grant:

  • Applications open from late July (no date announced)
  • Small businesses or sole traders affected by the lockdown will be eligible to apply for up to $1,500 per fortnight
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For Individuals:

  • The COVID-19 disaster payment from the federal government has been increased:
  • For individuals who have lost 20 hours of work per week the payment is now $650 per week
  • For individuals who have lost between 8-20 hours per week the payment is now $375 per week
  • The liquid assets test will be removed for NSW residents, allowing those with access to savings to be eligible for the payment

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