September 2021 Update

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NSW COVID-19 Economic Support - Measures Extended

On 2nd September 2021, the NSW Government announced a further $3.9 billion in funding, as part of its COVID-19 economic support package to provide ongoing assistance to businesses and individuals impacted by the current lockdown restrictions.

These measures include;

  • Extension of the JobSaver from 28th August for eligible businesses with a turnover between $75,000 and $250 million that continue to experience at least a 30% decline in turnover due to the Public Health Order. Eligible businesses will continue to receive a payment of up to 40% of their pre-COVID weekly NSW payroll;
  • Extension of the Micro-business grant from 28th August, for eligible businesses with a turnover of between $30,000 and $75,000 that continue to experience at least a 30% decline in turnover due to the Public Health Order. Eligible businesses will continue to receive a fortnightly payment of $1,500.
  • Extension of payroll tax deferrals and waivers 
    • Businesses eligible for a 2021 COVID-19 Business Grant or JobSaver with annual payrolls less than $10 million, will be eligible for a 50% reduction (waiver) in their 2021-22 payroll tax. This is up from 25%.
    • All businesses will also be eligible to defer payroll tax payments from July 2021 to December 2021. These payments are now not due until 14 January 2022.
    • 12-month interest free repayment plans will be made available for all businesses.
  • Extension of rent relief incentives to COVID-19 impacted tenants
    • For eligible commercial & retail landlords that have not claimed land tax relief - eligible for a monthly grant of up to $3,000; and
    • for eligible residential landlords - can choose between applying for land tax relief or a further payment of $1,500. This takes the total assistance to a maximum of $4,500 per tenancy if they agree to reduce the rent to impacted tenants by at least $4,500.


Workplace Rights & Obligations - COVID-19 Vaccinations

There is a big push to get the nation vaccinated. Employers therefore need to be aware of the issues associated with their employees being vaccinated. This will be an issue for all employers over the coming weeks and months. We encourage all our employing businesses to familiarise themselves with the rights and obligations in respect to vaccination. The Fair Work Ombudsman has provided some guidance for employers. https://coronavirus.fairwork.gov.au/coronavirus-and-australian-workplace-laws/covid-19-vaccinations-and-the-workplace/covid-19-vaccinations-workplace-rights-and-obligations

Office Update

With the continued lock down our office premises remains closed. We are still working hard behind the scenes to help our clients with applications for Covid-19 financial assistance in addition to all our "normal" work. Over the past couple of years we have invested in technology which has allowed our team to work remotely. (Glad we did that). So if you need a chat call our usual office number 02 46461025. Hopefully we will be able to see our clients in person soon.

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MILROY ACCOUNTING PROFESSIONALS

Milroy Accounting Professionals has served the Macarthur for over 20 years, including Camden, Narellan, Campbelltown, Liverpool and more recently Smeaton Grange, Gregory Hills and Oran Park. We deliver professional accountancy and compliance, bookkeeping and business advisory services to retail, commercial, industrial and trades firms, whether large or small.

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