Updated: Apr 22, 2020
The New South Wales Government has announced a $2.3 Billion Coronavirus stimulus package which includes extra health funding and payroll tax exemptions for businesses.
NSW Health will receive $700 million to help double capacity of intensive care units state-wide.
Public schools and state-owned buildings will get an extra $250 million to employ more cleaners.
NSW Health will receive an extra $700 million to boost a range of services including doubling the capacity of intensive care units across the state, preparing for additional coronavirus testing and buying extra ventilators and medical equipment.
The government allocated $1.6 Billion towards economic stimulus to help keep people in jobs throughout the crisis. As part of the measures:
$450 million has been allocated to waive payroll tax for businesses with payrolls of up to $10 million for three months. The State Government said these businesses would not have to pay the tax for the rest of this financial year. The next round of payroll tax cuts has also been brought forward to raise the threshold limit to $1 million for the next financial year.
There is also $80 million for fees and charges to be waived for small businesses such as cafes, restaurants and those in trades.
More than $750 million will be spent on capital works and maintenance of public assets.
If you have any questions at all, please do not hesitate to contact your Client Manager.