NSW unveils support package for small businesses

NSW unveils support package for small businesses

Small businesses across New South Wales will be able to take advantage of a new support package announced by the state government today to alleviate financial pressure associated with the ongoing lockdown.

Grants make up the core of the support package, with eligible small businesses and sole traders in NSW able to claim up to $10,000 depending on the nature of the loss in turnover they can demonstrate.

In addition, payroll and gaming tax liabilities are being deferred for hotels in the state through to August.

Further, the state's 'Dine & Discover' voucher program has been extended until the end of August, meaning those living in the state have more of an opportunity to order takeaway or delivery from eligible restaurants at the government's expense.

"Our message today to every business and every person right across New South Wales is that we've got your back," NSW Treasurer Dominic Perrottet said.

"We know that many businesses and individuals in regional New South Wales are also going through a difficult time, particularly in circumstances where this lockdown period has occurred during the holiday season."

Small businesses and sole traders will be eligible for the grant payments if they have up to 20 full time employees or have payrolls of up to $1.2 million plus turnover of more than $75,000 per year.

Businesses will receive a payment of $10,000 if there's a turnover reduction of 75 per cent, a payment of $7,000 if there's a turnover reduction of 50 per cent, or a $5,000 payment if turnover has reduced by 30 per cent.

The payment will also be available to businesses in the tourism, hospitality and accommodation sector with payrolls of up to $10 million.

Funds will be available from 19 July.

NSW recorded 19 new locally acquired cases of COVID-19 in the 24 hours to 8pm last night. Seventeen of these cases are linked to previously confirmed cases and the source of infection for two cases is under investigation.

Click here to see the full list of case locations and alerts for NSW.

Updated at 11.00am AEST on 29 June 2021.

 

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