In light of the new two week lockdown currently in place across greater Sydney, the NSW state Government has today put forward a new stimulus package aimed at helping small business and people who have been impacted by these current covid-19 restrictions across the state.
30 June 2021
The grants within the new stimulus package, come in 3 amounts and are dependent on each businesses decline in turnover during the new restrictions:
70% decline = $10,000
50% decline = $7,000
30% decline = $3,000
The grants will be divided into two streams, one for small business and another for hospitality and tourism.
Small business
Available to sole traders and businesses with a turnover of more than $75,000 per annum but below the NSW Government 2020-21 payroll tax threshold of $1,200,000 as at 1 July 2020. These businesses must also have the following:
Fewer than 20 employees
ABN registered in NSW; or
Demonstrate they are physically located and primarily operating in NSW
Hospitality and Tourism
Available to tourism or hospitality businesses with a turnover of more than $75,000 per annum and an annual wage bill below $10 million, as at 1 July 2020. These businesses must also have the following:
ABN registered in NSW; or
Demonstrate they are physically located and primarily operating in NSW