The New South Wales and Federal governments announced additional support for struggling businesses just one day before the current lockdown was extended for an additional two weeks.
Prime Minister Scott Morrison, New South Wales Premier Gladys Berejiklian and New South Wales Treasurer Dominic Perrottet announced the lifeline on Tuesday this week.
Under the package, the following will be available to busineses:
- COVID-19 disaster payments: Statewide workers who have lost 20 or more hours a week will receive $600 per week. Workers who have lost 8-20 hours will receive $275 per week.
- Weekly cash payments to businesses: Payments between $1,000 and $10,000 will be issued to businesses. The payments will be calculated at 40 per cent of the weekly wage cost provided businesses have seen a revenue drop by at least 30 per cent.
- Small business grant program: Cash grants now available for businesses with payrolls up to $10 million per year. Applications open on 19 July 2021.
- Payroll tax waivers and deferrals: For businesses facing significant tax liabilities for the current quarter.
- Moratorium on evictions: For commercial tenants without mediation, with land tax waiver incentives in place for landlords who seek to reduce rental payments owed during this period.
Restaurant & Catering Association CEO Wes Lambert has praised the governments and says the measures will mean “the different between survival and failure for hospitality businesses across the state facing certain ruin.”
Meanwhile, Premier Berejiklian has confirmed Greater Sydney and surrounding areas will remain in lockdown until 30 July 2021 as COVID-19 cases continue to rise.
“This means the restrictions currently in place across Greater Sydney including the Central Coast, Blue Mountains, Wollongong and Shellharbour will remain in place until this time,” reads a press release.
“We are constantly reviewing the health advice and will continue to update the community if any changes are required.”
