NSW BUSINESS SUPPORT PACKAGE EXPANSION HELPING BUSINESSES IN MITCHELL
The Morrison and Berejiklian Governments continue to work together to support businesses in New South Wales during the current COVID-19 lockdown.
With Greater Sydney set to remain in lockdown until at least 28 August 2021, both governments have agreed to expand the COVID-19 Business Support Payment.
Under the expanded payment, eligible entities, including not-for-profits, will now receive payments of between $1,500 and $100,000 per week based on the level of their payroll, with the maximum turnover threshold increased from $50 million to $250 million.
The payment will continue to be calculated based on 40 per cent of payroll for businesses that have suffered a 30 per cent or more decline in turnover.
For non-employing businesses, such as sole traders, the payment will remain set at $1,000 per week.
The expanded payment will now cover more than 400,000 businesses employing 3.3 million workers in NSW, subject to eligibility.
The payment will also provide more substantial support for businesses to cover unavoidable costs such as rent, insurance and maintenance as well as employee costs during an extended lockdown.
The expanded support will continue to be conditional on businesses maintaining their employee headcount as at 13 July (covering permanent and long-term casual employees) by not taking active steps to terminate their employment.
This will help maintain the connection between employers and employees and in doing so support the economic recovery once restrictions are eased.
The expanded payment will take effect from 18 July 2021, the start of the program. Businesses that have already submitted an application will not need to do anything, their payment will be automatically adjusted consistent with the expanded program.
Workers who have lost hours will continue to be supported by the COVID-19 Disaster Payment, with more than 812,000 claims granted in NSW to date and more than $411 million in weekly payments.
Federal Member for Mitchell, the Hon Alex Hawke MP, said that with NSW’s restrictions set to continue, it was important the Morrison and Berejiklian Governments work together to assist businesses and protect jobs across the State.
“The expansion of the COVID-19 Business Support Payment is welcome news,” Alex Hawke said.
“This expanded payment will help local businesses and their staff in our community to get to the other side during the current COVID-19 lockdown,” said Alex Hawke.
“Local businesses play a key role in our community and have done it extremely tough throughout the COVID-19 pandemic. We know this extra support will help many Mitchell businesses get through this difficult time.”