The NSW treasurer announced COVID support packages for businesses affected by the latest COVID lockdown. Namely, grants for businesses who experience a decline in turnover. The amount you can receive will depend on the amount of the decline in turnover.
- 75% decline in turnover = $10,000
- 50% decline in turnover = $$7,000
- 30% decline in turnover = $5,000
In order to qualify you need:
- A letter from your accountant is required to confirm the decline in turnover.
- Have a turnover greater than $75,000 per year.
- Have up to 20 full time employees or payrolls up to $1.2m.
Payments are scheduled to start from 19 July and this also includes sole traders.
We’re still waiting for confirmation as to the exact eligibility criteria and will provide and update as soon as we can.
Payroll tax and gaming tax deferrals will also be in place for July.
Federal Government Support
There is also Federal Government support available for casual workers who are required to quarantine and self isolate. Please see the Service NSW criteria to apply if this effects you: Financial support for individuals and households | NSW Government