Additional measures announced 3rd August 2021

• The support packages would be available to any state or territory that experienced an extended lockdown
• The support package will cost taxpayers about $1.5bn a fortnight on direct payments to help businesses and workers endure extended lockdowns – both currently in greater Sydney but also to apply to future lockdowns – with premiers able to activate as a “last resort”.
• The support package aims to cushion the blow of lost income and earnings and underwrite the bounce-back once restrictions are lifted.
• The new relief measures include a commitment to pay up to $600 a week to workers who have lost income and as much as $10,000 a week to businesses that have suffered a fall in earnings of 30% or more.

• Business and not-for-profits with a turnover between $75,000 up to $50m, that can show a 30% drop in revenue will received payments ranging from $1,500 to $10,000 a week based on payroll levels and as long as they don’t sack staff.
• The rate of payment will be fixed at 40% of the enterprise’s payroll payments, at a minimum of $1,500 and a maximum of $10,000/ week.
• The fall in turnover is determined by comparing a minimum of 2 weeks in June/July 21 lockdown, to a minimum 2 week period during June/ July 2019.
• Sole traders will receive $1,000 a week if they are hit by the restrictions.
• Additionally the NSW Government expanded the grants program with grants between $7,500 and $15,000 available to eligible businesses with annual Australian wages up to $10 million and a micro grant of $1,500/ fortnight for businesses with turnover between $30,000 and $75,000.

• For individuals living in a declared hotspot, Covid relief payment for workers will be increased, with individuals across NSW who lose 20 hours or more a week receiving a $600 weekly payment, while those who lose between 8 and 20 hours a week will receive $375 a week.
• They can keep working in that business, under those arrangements,

• Payroll tax waivers of 25% for employers with wages bills of 1.2M – $10M – that can show a 30% hit to earnings.
• NSW small business grants will be tax exempt
• Relief will be offered to individual taxpayers facing hardship.

• Applications for the business support cash grants are made through Service NSW. For more information, and to register click on this link https://www.service.nsw.gov.au/covid-19-business-support-2021
• Covid relief payments for workers are available via Service Australia. Workers will need a MyGov account, linked to a Centrelink online account. For my information, click on this link https://www.servicesaustralia.gov.au/individuals/services/centrelink/covid-19-disaster-payment

• There is encouragement measures to encourage rental relief from landlords with NSW Treasurer Dominic Perrottet saying, ”We will be mandating that there’ll be no lockouts or evictions during this period of time and any rent reduction from landlords to their tenants in that space, we will provide a rebate or discount in relation to land tax payable from that landlord to the state.”
• Land Tax relief up to 100% of the land tax liability available to residential and commercial landlords that pay land tax and reduce rents for their tenants.
• For residential landlords that reduce their tenant’s rent and not liable to land tax, a grant of up to $1,500 may be available on application if qualifying criteria are met.
• Residential tenants who have lost 25% or more of their income due to COVID-19 will have a moratorium on eviction for 60 days.
• Specific criteria for eligibility and details of how this measure will apply are expected to be released shortly, with NSW legislation to follow.
• Morrison unveiled a $17m mental health package for NSW, including further funding for charities such as Lifeline, headspace, Kids Helpline and the Butterfly Foundation.

• The Australian Banking Association has announced a national support package for business and home owners, including loan deferrals and fee waivers, as COVID-19 lockdowns continue to cause financial hardship for many Australians.
• The national support package includes business loan deferrals of up to three months, with loan terms extended accordingly, offered to all small business customers with less than $3 million debt and annual turnovers under $5 million.
• These customers will also be eligible for merchant terminal fee refunds of up to three months and fee waivers on cash deposit and farm management deposit accounts for up to three months.
• Mortgage holders will also be eligible to apply for loan deferrals on a month-by-month basis, which is available to both individual and business customers.