Where your business has been adversely affected by the recent lockdown in NSW, the NSW and Federal Governments have announced a range of new measures to support business during this lockdown period. The new measures include:
- 2021 COVID-19 Small Business Grant
- JobSaver
- NSW Micro Business Grant
- Revenue NSW Payroll Tax Relief
- Land Tax Relief
NOTE – to be able to access these new measures please ensure you have a My Service NSW account and your details are up to date on the Australian Business Register.
2021 COVID-19 Small Business Grant
The amount of the grant is determined by the impact of the lockdown on your revenue. Your business will need to prove a decline in revenue across a minimum 2 week period after the start of the lockdown restrictions were put into place.
Eligibility criteria – You must satisfy all of the below criteria in order to receive the grant:
a. Have an active Australian Business Number; and
b. Can demonstrate that your business was operating in NSW as at 1 June 2021; and
c. Have had total annual Australian wages of $10 million or less as at 1 July 2020 (this can be found from your 2020 income tax return); and
d. Have had an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2020 – this can be found from your 2020 income tax return. (If registered for GST this is the GST exclusive amount); and
e. Have business costs that can’t be avoided for the period 1 June 2021 to 17 July 2021 for which there is no other government support available; and
f. Be able to track the number of employees as at 13 July 2021. This means being able to track the number of people you employed in NSW including full time, part time and casuals that have been employed by the business for more than 12 months for the period 13 June 2020 to 13 July 2021; and
g. Be able to demonstrate a decline in revenue of at least 30% over a minimum 2-week period from 26 June 2021 to 17 July 2021, compared to the same period in 2019. The extent of the decline in turnover will determine the amount of the grant being paid to you:
| Decline in turnover | Grant |
| 70%+ | $15,000 |
| 50% or more | $10,500 |
| 30% or more | $7,500 |
If you can’t meet all of the above criteria, you must contact Service NSW to discuss your situation before applying.
Non-employing business structures who don’t pay wages including sole traders, trusts, partnerships or companies are not eligible to apply if persons associated with the business, and who derive income from the business, have applied for, or are receiving, the Commonwealth COVID-19 Disaster Payment.
Applications will close at 11:59pm on 13 September 2021.
JobSaver
This is a payment between $1,500 and a maximum of $10,000 per week based on 40% of the NSW gross wages paid to employees of your business.
Businesses that don’t pay wages that meet the eligibility criteria will be able to access a fixed payment of $1,000 per week.
This category of support will cease when lockdown restrictions are eased or when the Commonwealth hotspot declaration is removed.
Eligibility criteria is as follows:
a. Annual revenue between $75,000 and $50 million – the time period for this ought to be the 2020 financial year. This is to be confirmed by Service NSW in due course.
b. Demonstrate a 30% or more decline in turnover. The comparison of time periods is likely to be the same as the one used for the 2021 COVID-19 Small Business Grant.
c. Be able to track the number of employees as at 13 July 2021. This means being able to track the number of people you employed in NSW including full time, part time and casuals that have been employed by the business for more than 12 months for the period 13 June 2020 to 13 July 2021
d. Have been impacted by the current Greater Sydney COVID-19 lockdown restrictions in some way.
Application for this category of support have not yet opened but you can register your interest on the Service NSW website.
NSW Micro Business Grant
Eligibility requirements state that all of the below must be satisfied:
a. Annual revenue of more than $30,000 and less than $75,000 for the 2020 financial year. Service NSW are still to confirm this is the correct period but it likely to be the same period as the 2021 COVID-19 small business grant.
b. Demonstrate a 30% or more decline in revenue. Service NSW are still to confirm this is the correct period but it likely to be the same period as the 2021 COVID-19 small business grant.
c. The business is the main source of income for a person that is involved with the business.
d. Impacted by the current Greater Sydney COVID-19 restrictions in some way.
Applications for this category of support have not yet opened but you can register your interest through the Service NSW website.
Revenue NSW Payroll Tax Relief
The due date for lodgement for the2021 NSW payroll tax annual reconciliation has been extended until the 7 October 2021 for all businesses.
Payments towards the August 2021 NSW payroll tax has been deferred for payment until 7 October 2021 for all businesses.
A 25% reduction for payroll tax relating to the 2022 Financial Year will be available to businesses that pay wages between $1.2 million and $10 million that have experienced a 30% decline in turnover.
More details on this will be available by the end of August from Revenue NSW.
Land tax relief
Land tax relief provided by commercial, retail and residential landlords to their tenants will be available to financially distressed tenants for up to 100% of the 2021 land tax liability.
Please contact Waterford Accountants if you require assistance with applying for any of the above new measures.