Greater Sydney COVID-19 Lockdown – What Government Support is Available?

In response to the extended Greater Sydney lockdown as a result of the recent COVID-19 outbreak, the NSW Government has announced various measures to provide financial support for businesses during the lockdown period. We summarise below the measures that have been announced and the information currently available from the NSW Government:

Covid-19 Business Grant

This was the original NSW Government business support announced 2 weeks ago, however, the support amount has now been increased and it is also being opened up to larger businesses.

Grant Provider & Amount Available

Key Eligibility Criteria

Additional Information

NSW Government

Up to $15,000

Provides small businesses with either of the following grants, depending on the % of revenue reduction across a minimum two-week period, starting from 26 June 2021 compared to an equivalent period in 2019:

$15,000 for a 70% revenue reduction
$10,500 for a 50% revenue reduction
$7,500 for a 30% revenue reduction

Eligibility

Small businesses (including sole traders) with an annual turnover above $75,000;
Total Australian wages below $10 million;
Primarily operate in NSW or have an ABN registered in NSW

How to apply:

Apply Online via MyServiceNSW Account from 19 July 2021.

More details on this grant will be available on Service NSW’s website shortly – click here

Saving Jobs Payment

This is a new support payment announced on 13 July 2021 to support businesses in maintaining their employees and is being jointly funded with the Australian Federal Government.

Grant Provider & Amount Available

Key Eligibility Criteria

Additional Information

NSW Government

$1,000 to $10,000 per week

Provides small and medium businesses impacted by the current health restrictions with a direct weekly payment based of 40% of their weekly NSW payroll payments. The payment will be between $1,500 and $10,000 per week and non-employing businesses, i.e. sole traders and partnerships without employees, will receive a set $1,000 per week.

Eligibility

Small businesses (including sole traders) with an annual turnover between $75,000 and $50 million;
Business must have a revenue reduction of at least 30% compared to an equivalent two-week period in 2019;
Business must primarily operate in NSW or have an ABN registered in NSW;
Business must maintain its full time, part time, and long term casual staffing level as of 13 July 2021.

How to apply:

Apply Online via MyServiceNSW Account – this new measure will be available from next week (fourth week of Greater Sydney’s lockdown).

More details on this grant will be available on Service NSW’s website shortly – click here

Micro Business Grant

This is a new support payment announced on 13 July 2021 to support micro businesses that are impacted by the NSW health restrictions.

Grant Provider & Amount Available

Key Eligibility Criteria

Additional Information

NSW Government

$1,500 per fortnight

Provides micro businesses impacted by the current health restrictions with a direct fortnightly payment of $1,500 per fortnight

Eligibility

Micro businesses (including sole traders) with an annual turnover between $30,000 and $75,000;
Business must have a revenue reduction of at least 30% compared to an equivalent two-week period in 2019;
Business must primarily operate in NSW or have an ABN registered in NSW.

How to apply:

Apply Online via MyServiceNSW Account – applications to be made available later this month.

More details on this grant will be available on Service NSW’s website shortly – click here

Other Support Measurers

In addition to the above support payments / grants, the NSW Government has announced the following measurers:

Residential landlords who decrease rent for impacted tenants can apply for a grant of up to $1,500 or land tax reductions depending on their circumstances. The land tax relief will be equal to the value of rent reductions provided by landlords to financially distressed tenants, up to 100 per cent of the 2021 land tax year liability;
Payroll tax waiver of 25% for businesses with an annual payroll of between $1.2 million and $10 million that can demonstrate a 30% reduction in turnover.