2021 NSW COVID-19 Support for Businesses and Individuals

2021 NSW COVID-19 Support for Businesses and Individuals As a result of the extended lockdown restrictions in New South Wales, the NSW Government has introduced several grants available to businesses, individuals, landlords and tenants. We have summarised these grants with details, including eligibility, grant amount and how to apply. As some measures are yet to be finalised, we will constantly update this post to bring you the latest information. Save this page and stay tuned! If you wish to discuss any of the grants, please feel free to make an appointment with us. We have been there for small businesses and individuals. We know how to support!

For Businesses

1.1 COVID-19 Micro Business Grants

Annual business turnover requirement: between $30,000 and $75,000.

Eligibility

• have an active Australian Business Number (ABN) registered in, or demonstrate your business was primarily operating in, NSW as at 1 June 2021
• have had aggregated annual turnover between $30,000 and $75,000 for the year ended 30 June 2020
• have experienced a decline in turnover of 30% or more due to the public health orders over a minimum 2-week period within the Greater Sydney lockdown (commenced 26 June 2021  and due to end 30 July 2021), compared to the same period in 2019
• have business costs for which no other government support is available
• have not applied for either the 2021 COVID-19 business grant or the JobSaver payment
• maintain your employee headcount as at 13 July 2021 while receiving payments from this grant, if you’re an employing business
• have this business as your primary income source, if you’re a non-employing business such as a sole trader.

Amount
$1,500 per fortnight

How to Apply
You can apply with the Service NSW here.

 

1.2 COVID-19 Business Grants (one-off)

Annual business turnover requirement: between $75,000 and $50 million.

Eligibility
To be eligible for the grant, you must:

• have an active Australian Business Number (ABN);
• demonstrate your business was operating in NSW as at 1 June 2021;
• have had total annual Australian wages of $10 million or less as at 1 July 2020;
• maintain your employee headcount as at 13 July 2021. See the guidelines for definitions.
• have had an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2020; and
• have business costs for which there is no other government support available;

Available Grants
You need to compare the turnover over a minimum two-week period from 26 June 2021 to 17 July 2021 to the same period in 2019:

• $7,500 for a decline of 30% or more;
• $10,500 for a decline of 50% or more;
• $15,000 for a decline of 70% or more.

How to Apply
Applications open from 19^th July.  You can apply with the Service NSW here.

 

1.3 JobSaver

This scheme provides cash flow support to help the business maintain their employee headcount on 13th July 2021

Annual business turnover requirement: between $75,000 and $50 million.

Eligibility
To be eligible for JobSaver, you must:

• have an active Australian Business Number (ABN)
• demonstrate your business was operating in NSW as at 1 June 2021
• have had a national aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2020
• have experienced a decline in turnover of 30% or more due to the Public Health Order over a minimum 2-week period within the Greater Sydney lockdown (commenced 26 June) compared to the same period in 2019
• for employing businesses, maintain your employee headcount on 13 July 2021 while you continue to receive JobSaver payments.

Amount

• Non-employing businesses: $1,000 / week
• Employing businesses: 40% of weekly payroll with a minimum weekly payment of $1,500 and a maximum weekly payment of $10,000
• For non-employing business (e.g. sole trader), you may be eligible to receive a payment of $1,000 / week.

How to Apply
You can apply with the Service NSW here. Applications will close at 11:59pm on 18th October 2021.

 

1.4 Payroll Tax Concessions & Deferrals

Concessions
For businesses with Australian wages up to $10 million, there will be 25% reduction in 2021-22 payroll tax if there is a 30% decline in turnover. Please visit Revenue NSW for more information.

Deferrals
Businesses can defer payments on 202-21 annual payroll tax reconciliation and wages paid in July and August 2021. Interest-free repayment plan can be arranged for a period of up to 12 months. Please visit Revenue NSW for more information.

For Individuals

2.1 COVID-19 Disaster Payment

You can receive up to $750 for each recognised COVID-19 lockdown, hotspot or period of restricted movement in your area.

Eligibility
You need to meet all the general eligibility rules; If you live, work in or visited NSW, you also need to meet the NSW eligibility rules;

How to Apply
If you are an Australian resident, you can apply through myGov account linked to your Centreline online account. Visit Services Australia for more information.

 

2.2 Pandemic Leave Disaster Payment

If you live in NSW and cannot earn an income due to self-isolation or quarantine, or that you are caring for someone with COVID -19.

Eligibility
You must also meet all of the following:

• you’re at least 17 years old and live in New South Wales;
• you’re an Australian resident or hold a visa that gives you the right to work in Australia;
• you’re unable to go to work and earn an income;
• you have no appropriate leave entitlements, including pandemic sick leave, personal leave or leave to care for another person;
• your period of quarantine is after 17 September 2020.

Amount
$1,500 for each 14 day period you’ve been told to self-isolate or quarantine, or are caring for someone with COVID-19.

How to Apply
You can call on 180 22 66 or check with Services Australia for more information.

Support for Residential and Commercial Landlords and Tenants

3.1 If your business cannot pay rent

Landlords will not be able to lock out or evict them without first going to mediation;

Eligibility

• Annual turnover is equal to or less than $50 million;
• You are eligible for either the Micro-business COVID-19 Support Grant, the COVID-19 NSW Business Grant or the JobSaver Scheme.

How to Apply
Contact the Small Business Commissioner

 

3.2 For landlords leasing commercial properties to tenants

You may be eligible for a land tax concession if you provide rent reductions to the tenants from now until 31^st December 2021.

Eligibility
For landlords who provide at least that much rental relief to tenants who are eligible for the

• Micro-business COVID-19 Support Grant;
• 2021 COVID-19 NSW Business Grant; and/or
• JobSaver scheme.

Amount
Payment up to 100% of 2021 land tax.

How to Apply
Visit Revenue NSW

 

3.3 For landlords leasing residential properties

You may be eligible for a land tax concession if you provide rent reductions to the tenants from now until 31^st December 2021.

Eligibility

• For landlords who provide at least that much rental relief
• Tenants must have lost 25% or more of their income
• Available for rent reductions made from now until 31 December 2021

Amount
You receive either:

• $1500 grant to residential landowners to pass onto their tenants, or
• Concession of up to 100% of 2021 land tax

How to Apply
Visit Revenue NSW Please do note hesitate to book an appointment us, should you have any questions regarding the above grants.

 

WL Advisory is a Chartered Accounting firm. We specialise in accounting, tax and advisory services for individuals and small businesses. Please visit our website for more information.