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

  • 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 as well.

  • 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 tradies.

  • 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]