State-Based Stimulus Package Initiatives | New South Wales
In addition to the nationwide packages, states and territories have also created local business relief packages. From payroll tax to cleaning and parking, State Government initiatives for New South Wales are outlined below. (Please click on the links below for more information.)
Payroll Tax Waiver
A payroll tax waiver is available for eligible businesses with payrolls up to $10m for Q4 FY2020 (April to June 2020).
Payroll Tax Threshold Increase
An increase to the payroll tax threshold for 2020-2021 from $900,000 to $1m. The increase is available from 1 July 2020 for all businesses which employ staff.
Payroll Tax Deferral
A deferral of 6 months is available for eligible businesses with payrolls greater than $10m, and 3 months for businesses with payrolls of up to $10m.
Specific Small Business Fee Waivers
$80m has been allocated to waive fees and charges for specific small businesses. Eligible businesses include bars, restaurants, trades and cafes.
Funding for Public Infrastructure Cleaners
$250m in funds have been allocated for the employment of public infrastructure cleaners (transport assets, public buildings and schools).
Gaming Tax Deferral
A 6-month deferral of gaming tax obligations for places such as clubs, pubs, hotels and the lotteries tax but conditionally given that the funds are used to retain staff.
Deferral of Parking Space levy
A 6-month deferral of the parking space levy for businesses that own off-street parking spaces and are subject to the parking levy.
Tenant Relief for Government-owed
A 6-month rent relief program has been made available for commercial tenants with less than 20 employees, for businesses with tenancy in Government-owned properties.
More information on NSW initiatives can be found on the below links:
Want to know more?
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Below are some articles that may interest you:
- JobKeeper Payment: Relief for Employers and Employees
- Are you entitled to the Federal Government Stimulus Package
- Government Stimulus Package for Business
- Government Stimulus Package for Individuals
- Australian Tax Office Relief
Supporting you through the changes. From making the most of the stimulus initiatives, through to managing the risks associated with the impact of the Coronavirus, the Modoras team is here to help you build a resilient business. Make well-informed business decisions; contact us on 1300 888 803 book a catch up with a Modoras professional.
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