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July 14, 2021

Government COVID-19 support for NSW businesses and residents

Cash flow boosts for NSW businesses

The New South Wales and federal governments recently announced new support for businesses and individuals affected by COVID-19 restrictions and lockdowns in the state. The measures include:

Cash flow boosts for NSW businesses (JobSaver)

To help maintain their employee headcount and support their cash flow, eligible businesses in New South Wales will receive payments of between $1,500 and $10,000 per week.

The scheme, known as ‘JobSaver’, is separate from the NSW Government’s Small Business COVID-19 Grant, which covered the first three weeks of the lockdown until July 17.)

JobSaver will provide cash flow support for eligible businesses from July 18 to August 14 inclusive.

Who can apply?

JobSaver is available to businesses that meet the following criteria and conditions:

  • non-employing and employing entities in NSW with an annual turnover of between $75,000 and $50 million
  • turnover is 30% or more lower than an equivalent two-week period in 2019
  • must maintain the number of staff they had on 13 July 2021.

(Micro-businesses earning more than $30,000 but less than $75,000 will also receive a backdated $1,500 per fortnight payment from week one of the lockdown if their turnover has declined 30% or more.)

How much is available

$1,500 to $10,000 per week — up to a maximum of 40% of the eligible business’s NSW payroll payments.

For non-employing businesses (e.g. sole traders), the payment will be set at $1,000 per week.

When do applications open

Applications will reportedly open in late July. Businesses can register their interest in the payments on the Services NSW website.

Increased COVID-19 disaster payments

The federal government has announced increases to the COVID-19 disaster payments.

These payments are for Australians whose income is affected by state and territory government restrictions on movement or lockdowns due to COVID-19.

The government has increased the payments as follows:

Hours worked or lostNew AmountOld Amount
20+ hours worked per week$600$500
8–20 hours lost per week$375$325

The eligibility criteria have also been broadened to include all residents of NSW — not just those under lockdown in regions declared hotspots by the federal government.

The payments will be available from 18 July 2021.

Australian residents can claim the payment online via a myGov account linked to a Centrelink account.

For more information, visit Services Australia’s COVID-19 Disaster Payment web page.

Relief for residential and commercial tenants

The NSW Government has also announced additional support for residential and commercial tenants affected by the lockdown, including:

  • land-tax rebates for commercial and residential landlords, to stave of evictions
  • 60-day ban on evictions of residential tenants whose income has fallen at least 25%.

For more information about commercial lease support, visit the Service NSW website.

Applying for a government support grant can be overwhelming. We want to make sure you are aware of what financial support is available that you may be entitled to. Make the most of Covid-19 support payments by watching the webinar on-demand here. 

IMPORTANT INFORMATION: This blog has been prepared by Modoras Accounting (SYD) Pty Ltd ABN 18 622 475 521. The information and opinions contained in this blog is general information only and is not intended to represent specific personal advice (Accounting, taxation, financial, insurance or credit). No individuals’ personal circumstances have been taken into consideration for the preparation of this material. The information and opinions herein do not constitute any recommendation to purchase, sell or hold any particular financial product. Modoras Accounting (SYD) Pty. Ltd. recommends that no financial product or financial service be acquired or disposed of or financial strategy adopted without you first obtaining professional personal financial advice suitable and appropriate to your own personal needs, objectives, goals and circumstances. Information, forecasts and opinions contained in this blog can change without notice. Modoras Accounting (SYD) Pty. Ltd. does not guarantee the accuracy of the information at any particular time. Although care has been exercised in compiling the information contained within, Modoras Accounting (SYD) Pty. Ltd. does not warrant that the articles within are free from errors, inaccuracies or omissions. To the extent permissible by law, neither Modoras Accounting (SYD) Pty. Ltd. nor its employees, representatives or agents (including associated and affiliated companies) accept liability for loss or damages incurred as a result of a person acting in reliance of this publication. Liability limited by a scheme approved under Professional Standards Legislation.

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