Small Business & Hospitality And Tourism COVID-19 Support Grant
The NSW Treasurer Dominic Perrottet has, on Tuesday 29 June 2021, announced a business support package for eligible businesses that have suffered turnover reductions as a result of the state lockdowns.
Small Business & Hospitality and Tourism COVID-19 Support Grant
- The package will cover all of NSW, not just hotspot areas, the Treasurer announced.
- Small businesses will receive support payments of up to $10,000.
- Sole traders are also included along with small businesses with fewer than 20 full-time employees, and payrolls up to $1.2 million with an annual turnover of at least $75,000 per year.
- Businesses that meet the eligibility criteria and suffer a turnover reduction of more than 70% will be entitled to the full payment of $10,000.
- Businesses that suffer a 50% reduction will receive $7,000, and a 30% reduction will be entitled to a $5,000 payment.
- For businesses in the tourism, hospitality and accommodation sectors, the eligibility is expanded to include businesses with payrolls of up to $10 million.
- Businesses will need to show the required decline in turnover across a minimum 2-week period after the 26th of June (when major restrictions commenced).
- The application process will be done online at Service NSW towards the end of July.
Payroll tax deferral
- The support package also included an option for all employers to defer payroll tax payments due in July 2021.
- Repayment arrangements will be considered by the Chief Commissioner of State Revenue on a case by case basis.
Please do not hesitate to contact us if you have any queries or refer to the Service NSW website as information, updates and eligibility criteria are made available.