NSW GOVERNMENT ASSISTANCE

The NSW government has released the second stage of its economic package aimed at keeping people in jobs, helping businesses and supporting our most vulnerable in the face of the COVID-19 pandemic.

Business support and jobs

  • NSW commercial tenants significantly impacted by COVID-19 will have greater protection from evictions with the state government set to enact National Cabinet’s mandatory Code of Conduct as part of a $440 million land tax relief package. The measures will apply to commercial leases where the tenant is in financial distress due to COVID-19 including, but not limited to, shops, cafes, gyms, hairdressers, restaurants, offices, warehouses, and industrial sites. Commercial landlords will be offered the land tax concession if they pass the savings on to tenants through a rent reduction.

  • The creation of a $750 million Small Business Support Fund to get cash into small businesses and keep them afloat. Small businesses can apply for a grant of $10,000 which will be open through Service NSW mid-April. Eligible businesses:
    - have between 1-19 employees and a turnover of more than $75,000
    - have a payroll below the NSW Government 2019-20 payroll tax threshold of $900,000
    - have an Australian Business Number as at 1 March 2020, be based in NSW and employ staff as at 1 March 2020
    - must be highly impacted by the Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020 issued on 30 March 2020
    - must use the funding for unavoidable business costs such as utilities, overheads, legal costs and financial advice
    - must provide appropriate documentation upon application.

  • The creation of a $1 billion Working for NSW fund to sustain business, create new jobs and retrain employees. The fund is already being put in to action with 1000 new staff for Service NSW announced this week to be funded by the program. The Working for NSW fund will comprise $750 million in new funding and $250 million announced last week for additional cleaning services.

  • Deferral of payroll tax for business with payrolls over $10 million for six months (up to $4 billion deferred). Businesses with payrolls of $10 million or less received a three-month waiver on payroll tax in the first package. These businesses will now get an additional three-month deferral.

  • Bring forward the next round of payroll tax cuts by raising the threshold limit to $1 million in 2020-21.

  • Waive a range of fees and charges for small businesses including bars, cafes, restaurants and tradespeople.

  • Bring forward maintenance on public assets including social housing and crown land fencing.

  • Bring forward capital works and maintenance.

  • Deferral of gaming tax for clubs, pubs and hotels, and lotteries tax for six months, conditional on these funds being used to retain staff. This improves liquidity and helps these businesses stay afloat.

  • Deferral of the parking space levy for six months.

  • Deferral of rents for six months for commercial tenants with less than 20 employees in all Government-owned properties.

https://preview.nsw.gov.au/news/billions-tax-relief-for-business-1-billion-fund-for-jobs-and-help-for-vulnerable[TJ1]