Covid 2.0 Sydney

The NSW and Federal Government will co-fund small and medium business support payments.

This support is targeted at NSW entities, including not-for-profits, with an annual turnover between $75,000 and $50 million, and has a turnover that is 30% lower than an equivalent two week period in 2019.

Eligible entities will receive 40% of their NSW payroll payments, at a minimum of $1500 and a maximum of $10,000 per week provided they maintain current staffing levels.

NSW businesses claim grants between $7,500 and $15,000 to cover the first three weeks of restrictions.

A new grants program for micro businesses with a turnover of between $30,000 and $75,000 which experience a decline in turnover of 30% was also announced. Businesses will be eligible for a $1500 payment per fortnight of restrictions.

Payroll tax waivers of 25% is available for businesses with Australian wages of between $1.2 million and $10 million that have experienced a 30 per cent decline in turnover, as well as payroll tax deferrals and interest free repayment plans

There is administrative relief to NSW taxpayers facing hardship, including reduced payment plans, no interest charged on late payments and varying instalments on request.

The disaster payment scheme has been expanded to address the protracted nature of the greater Sydney lockdown. As of today, anyone who has lost more than 8 hours of work per week can access the disaster payment.

People who have lost more than 20 hours of work can access a $600 per week, up from $500. People who have lost 8 hours and up to 20 hours of work can access $375 per week, up from $325.

Also read top viewed Ai Legal article: The Role of AI in Legal Research.

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