On 3rd April, the NSW Government announced a support package of payments up to $10,000 for small businesses operating in NSW. The previous support for Payroll Tax was for businesses paying larger amounts of wages, this one is for businesses the generally do not fall into the Payroll Tax category, and with payroll under $900,000 per annum.
To be eligible, businesses will need to:
have between 1-19 employees and a turnover of more than $75,000
a payroll below the NSW Government 2019-20 payroll tax threshold of $900,000
have an Australian Business Number as at 1 March 2020, be based in NSW and employ staff as at 1 March 2020
be highly impacted by the Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020 issued on 30 March 2020
use the funding for unavoidable business costs such as utilities, overheads, legal costs and financial advice
provide appropriate documentation upon application.
Highly impacted industries
Eligible industries are those that have been subject to closure or are highly impacted by NSW Government health directions in relation to COVID-19 and include:
Retail trade
Accommodation and food service
Rental, hiring and real estate services
Administrative and support services
Arts and recreation services.
Please click here to access the full article from Service NSW.
Please contact our office on 02 9299 7044 or email us on admin@lockwood.com.au if you have any questions regarding this.