MAP - July 2021 Update

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COVID-19 business grant

The NSW and Federal Government have announced new and expanded support measures for NSW businesses and individuals impacted by the current Greater Sydney COVID-19 lockdown.  Please note, the information provided is current as of 13 July 2021, however further updates and information may be announced by government authorities.  Please refer to Service NSW and Services Australia websites for updates as they are made.

Further to the measures outlined in our previous newsletter, the NSW Treasurer Dominic Perrottet has announced expanded eligibility and increased grants to cover the first 3-weeks of restrictions.

  • Three different grant amounts will be available depending on the decline in turnover:
    • $7,500 for a decline of 30% or more (previously $5,000)
    • $10,500 for a decline of 50% or more (previously $7,000)
    • $15,000 for a decline of 70% or more (previously $10,000)
  • Decline in turnover will be measured by comparing turnover for a minimum two-week period after lockdown commenced (26 June 2021), to a minimum two-week period in June and/or July 2019.
  • Eligible businesses required to have an annual turnover of more than $75,000 for the year ended 30 June 2020.
  • Eligible businesses to have total Australian annual wages below $10 million.
  • Applications for the grant will be available from 19 July 2021 through Service NSW.
  • Register your interest now at ServiceNSW.

Micro business grant

  • Micro businesses are small businesses or sole traders with an annual turnover of more than $30,000 and under $75,000
  • If you are an eligible micro business impacted by the Greater Sydney COVID-19 lockdown restrictions, you may be eligible for support.
  • $1,500 payment per fortnight of restrictions.
  • Applications available from late July 2021 through Service NSW
  • Register your interest now at ServiceNSW.

Extra support for businesses
The Federal government and NSW government have announced a joint small and medium business support package.  This package is designed to maintain employment of staff.  This will be implemented and administered by Service NSW.

  • Eligible entities will receive 40% of their NSW payroll amounts, at a minimum of $1,500 per week, and a maximum of $10,000 per week.
  • Entities will be eligible if they have an annual turnover of between $75,000 and $50 million, and experience a turnover reduction of at least 30% compared to a equivalent 2-week period in June/July 2019.
  • Non-employing entities, including sole traders, will also be eligible, with a set payment of $1,000 per week.
  • To  receive the payment, entities will be required to maintain their staff head count as of 13 July 2021 - for their full-time, part-time and long-term casual employees.  Payments will not be available where a businesses headcount has not been maintained from 13 July 2021.
  • The payments will commence during  week four of a lockdown, which for Sydney would be from next week. 
  • You can register your interest now at ServiceNSW.

Payroll tax support
The NSW government also announced the following payroll tax support measures:

  • Deferral of payroll tax payments for all businesses for the next 2-months.
  • A waiver of payroll tax payments for the September 2021 quarter for businesses with at least a 30% reduction in turnover, with wages between $1.2 million and $10 million.

Support for individuals including commercial & retail tenants

  • The COVID-19 Disaster Payment will increase from 18 July 2021 if a lockdown goes into a fourth week (which for Greater Sydney will be from next week).
  • From $500 to $600 per week - for a person who has lost 20 hours or more of work a week.
  • From $325 to $375 per week - if a person has lost between 8 and 20 hours of work a week.
  • These payments will will be available to NSW individuals outside Commonwealth-declared hotspots in Sydney, provided they have lost hours and satisfy the eligibility criteria.
  • The payments will be recurring each week for as long as the lockdown restrictions remain in place.  There will be no need to re-claim for each seven day period of a lockdown.
  • The NSW government has said there will be no lockouts or evictions for tenants during the lockdown period.  
  • Land tax rebates and discounts will be provided to commercial, retail and residential landlords up to the value of rent reductions provided to tenants.
  • A capped grant of up to $1,500 for residential landlords who are not liable to pay land tax who reduce rent to tenants.
  • Eligibility criteria for the COVID-19 Disaster Payment is available at Services Australia and Claims can be made online now.

Please feel free to contact us if you have any queries regarding these support measures.

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