The NSW and Federal Governments have packages to financially support individuals and businesses through the COVID lockdown.
There is a broad range of assistance available for you, either as a business owner, employer, employee, landlord, tenant or COVID patient.
For a quick review, click the PDF Matrix:
For more detailed information read on:
COVID-19 Business Support Package
Who is Eligible?
Businesses, Sole Traders & Not For Profit Organisations
Turnover > $75K & < $50M at 30.6.20
Total annual Australian wages < $10M at 1.7.20
ABN registered in NSW OR
Demonstrate located or operating in NSW
Trading for > 12 months
Maintain your employee headcount as at 13.7.21 - for full time, part time & casuals > 12 months
Experienced a decline > 30% over a minimum 2 week period between 26.6.21 to 17.7.21 compared to the same period in 2019 or the same period in 2020 or the same 2 week period immediately before lockdown - 11.6.21 to 25.6.21
Turnover decline is tested on your BAS registration basis, cash or accruals, you cannot choose
What is the Support?
$7,500 for a > 30% decline in turnover
$10,500 for a > 50% decline in turnover
$15,000 for a > 70% decline in turnover
One-off payment
Tax Free
How & When to Get It?
Apply through Service NSW
Apply from 19.7.21 through to midnight 13.9.21
Letter from a qualified accountant, registered tax agent or registered BAS agent confirming decline in turnover - where required
Need your 2020 tax return
Micro Business Grant
Who is Eligible?
Businesses & Sole Traders
On 1.6.21 be ABN registered in NSW OR
Demonstrate your business was operating in NSW as at 1.6.21
Have had aggregated annual turnover >$30K and <$75K for FY20
This is business income as per your tax return
Have this business as your primary income source
Maintain your employee headcount as at 13.7.21 - for full time, part time & casuals > 12 months
Have had a decline in turnover of at least 30% over a minimum 2-week period from 26.6.21 to 28.8.21, compared to the same period in 2019 or the same period in 2020 or the same the 2 week period immediately before lockdown - 11.6.21 to 25.6.21
You must not have applied for the COVID Business Grant or JobSaver payment
Sole traders are NOT eligible for this grant if anyone associated with the business has received the Commonwealth COVID Disaster Payment
Sole traders (no employees) must show business income as the primary income source for the associated person
If you have more than one business under an ABN, you can only claim for once, businesses with separate ABNs can claim per ABN
What is the Support?
$1,500 per fortnight for a > 30% decline in turnover
Backdated to 26.6.21
After NSW reaches 80% double vaccination the grant will continue to be available at a rate of $750 a fortnight
Ongoing Payment
Tax Free
How & When to Get It?
Apply through Service NSW
Apply from 26.7.21 extended through to midnight 30.11.21
You will need to reconfirm your eligibility to continue to receive payment for the period 13.9.21 to 26.9.21 then each on-going fortnight
You will need to apply:
a MyServiceNSW Account
your proof of identity
your valid ABN
your business banking details for payment
evidence of your annual turnover and loss of income
Australian income tax return or Notice of Assessment to confirm revenue at 30.6.20
Letter from a qualified accountant, registered tax agent or registered BAS agent confirming decline in turnover - where required
NSW Hospitality & Tourism Support Grant
Who is Eligible?
Businesses & Sole Traders
Turnover > $75K for year ended 30.6.20
Have an ANZIC code classifying you as tourism or hospitality
Total annual Australian wages < $10M at 1.7.20
ABN registered in NSW OR
Demonstrate located or operating in NSW
Have not applied for the 2021 Business Support Grant above
Have incurred business costs for which no other grant is available
What is the Support?
$7,500 for a > 30% decline in turnover
$10,500 for a > 50% decline in turnover
$15,000 for a > 70% decline in turnover
One-off payment
Tax Free
How & When to Get It?
Apply through Service NSW
Apply from 19.7.21
Letter from a qualified accountant, registered tax agent or registered BAS agent confirming decline in turnover - where required
Business Support Payment - JobSaver
Who is Eligible?
Businesses, Sole Traders & Not For Profit Organisations
Employers and non-employers
Aggregated annual turnover between $75K & $50M (inclusive) for the year ended 30.6.20
This is business income as per your tax return
On 1.6.21 be ABN registered and were operating in NSW
Maintain your employee headcount as at 13 July 2021 - full time, part time & casuals > 12 months
Have had a decline in turnover of at least 30% over a minimum 2-week period from 26.6.21 to 28.8.21, compared to the same period in 2019 or the same period in 2020 or the 2 week period immediately before lockdown - 11.6.21 to 25.6.21
Turnover decline is tested on your BAS registration basis, cash or accruals, you cannot choose- Sole traders (no employees) must show business income as the primary income source for the associated person
If you have more than one business under an ABN, you can only claim for one, businesses with separate ABNs can claim per ABN
What is the Support?
When turnover is 30% lower than equivalent 2 week period
Current:
Receive 40% of weekly payroll for work performed in NSW
Minimum $1,500, maximum $100,000 per week
$1,000 per week for businesses without employees
From 10 October:
Receive 30% of weekly payroll
Minimum of $1,125, maximum of $75,000 per week
$750 per week for businesses without employees
80% double vaccination:
Receive 15% of weekly payroll
Minimum of $562.50, maximum of $37,500 per week
$375 per week for businesses without employees
Eligible businesses with employees will receive fortnightly payments backdated to 18th July 2021 (week 4 of the Greater Sydney lockdown)
Weekly payroll will be based on the most recent BAS lodged with the ATO before 26 June 2021 for FY21.
Ongoing Payment
Tax Free
How & When to Get It?
Apply through Service NSW
Apply from 26.7.21 extended through to midnight 30.11.21
You will need to reconfirm your eligibility to continue to receive payment for the period 13.9.21 to 26.9.21 then each on-going fortnight
You will need to apply:
a MyServiceNSW Account
your proof of identity
your valid ABN
your business banking details for payment
evidence of your annual turnover and loss of income
Australian income tax return or Notice of Assessment to confirm revenue at 30.6.20
Letter from a qualified accountant, registered tax agent or registered BAS agent confirming decline in turnover - where required
COVID-19 Disaster Payment
Who is Eligible?
Individuals living in NSW
Individuals who have lost > 8hours or a full day's work a week
Employees
What is the Support?
Current:
Lost 8 - 20 hours $450/week (was $375)
Lost > 20 hours $750/week (was $600)
At 80% full vaccination
In the first week payment will step down to a flat payment of $450
Second week payment will be $320
After the second week there will be no more disaster payment
Ongoing Payment
Not Taxable
How & When to Get It?
Apply through Services Australia
Individual eligibility criteria apply
Need a myGov & Centrelink account linked
At 70% full vaccination individuals will need to reapply each week to confirm eligibility
Pandemic Leave Disaster Payment
Who is Eligible?
If NSW Health has told you to self-isolate or quarantine for 14 days
You have COVID-19
You are a close contact of someone with COVID-19
You are caring for someone with COVID-19
You are over 17 years old
You have no leave entitlements
What is the Support?
$1,500 for each 14 day period of isolation
One-off payment
Taxable
How & When to Get It?
Apply through Services Australia
Individual eligibility criteria apply
Need a myGov & Centrelink account linked
ATO Support
Who is Eligible?
Businesses receiving NSW COVID Grants
Business who can't pay their taxes
What is the Support?
NSW COVID business grants will be tax exempt
NSW taxpayers will receive reduced ATO payment plans
NSW taxpayers will have no interest charged on late payment
NSW taxpayers will be able to vary instalments with no penalty
How & When to Get It?
Talk to us for any help you need in this area
Payroll Tax Relief
Who is Eligible?
Businesses liable for payroll tax and eligible for a 2021 COVID-19 Business Grant or JobSaver whose total grouped Australian wages for the 2021/22 financial year are $10 million or less who have experienced a 30% decline in turnover
ALL Payroll tax businesses
What is the Support?
Annual tax liability will be reduced by 50%
Businesses have the option of deferring monthly payments for the July to December 2021 return periods until 14 January 2022
How & When to Get It?
More information on this 50% reduction will be provided when the 2021/22 annual reconciliation becomes available
All businesses are still required to lodge the 2020/21 annual reconciliation by the due date extended to 14 January 2022
After lodging their 2021 annual reconciliation, businesses will have the option of paying the outstanding liability in full or entering a new Support Payment Arrangement
If businesses choose to enter into a 2021 Support Payment Arrangement, they will have the option to include tax payable from the 2020/21 annual reconciliation and any monthly liabilities for the July to December 2021 return periods
More information on how to establish a 2021 Support Payment Arrangement will be provided in November 2021
Commercial Landlord Support
Who is Eligible?
Tenants must have an annual turnover of <$50M
Tenants must be eligible for either of the Micro-Business COVID-19 Support Grant, the COVID-19 NSW Business Grant, or the JobSaver Scheme
For landlords with tenants in financial distress
What is the Support?
Landlords with commercial properties may be eligible for a land tax concession, or a grant, if they provide rent reductions to their tenants
$3,000 grant to commercial or retail landowners for rental waivers of at least the value of the grant and any land tax relief they are eligible for
Landlords must provide at least that much rental relief
Landlords are required to provide rent relief in proportion to the tenant’s decline in turnover
Of the rent relief provided, 50% must be a Waiver and 50% a Deferral
How & When to Get It?
Available for rent reductions made from 1 July 2021 until 31 December 2021
For more information and to apply for Land Tax Relief, visit Service NSW
For more information and to apply for $3,000 Grant, visit Small Business NSW
Grant details not finalised
Residential Tenant Support
Who is Eligible?
For landlords with tenants in financial distress
Tenants in financial distress
Landlords with tenants who have lost 25% or more of their household income, and rent reductions were made on or after 14 July 2021
What is the Support?
Eviction Moratorium for Residential Tenants in place until 31 December 2021
$3,000 grant to residential landowners for rent reductions provided to tenants, OR concession of up to 100% of 2021 land tax
How & When to Get It?
For more information and to apply, visit Fair Trading
To be eligible for the land tax reduction, visit Service NSW
As always if you need any assistance please do not hesitate to get in touch with one of the team at Sullivan Dewing!
