16th July 2021
As you are probably aware, Scott Morrison recently announced both new COVID support initiatives and changes to previously announced support packages. Here, we bring you the most up to date information regarding COVID-related government support that you may be eligible for.
NEW – SAVING JOBS CASHFLOW PAYMENTS
The Saving Jobs Support Program is aimed at providing cash flow support to businesses in order to maintain staffing levels.
Businesses with turnover of more than $75,000 can receive payments of up to 40% of their weekly payroll with a minimum weekly payment of $1,500 to a maximum of $10,000. Sole traders will be eligible to apply for weekly payments of $1,000.
To be eligible, businesses must show that turnover has declined by 30% during the lockdown when compared with an equivalent period in June or July 2019.
Importantly, businesses must demonstrate that their staffing levels have been maintained at the level they were as of 13th July 2021 to continue receiving the payments.
Businesses will be able to apply at MyServiceNSW, applications open 26th July, with payments expected to start from 30 July.
Please register your interest in the program here to receive email updates.
NEW – MICRO BUSINESS GRANTS
Small businesses and sole traders with annual turnover of between $30,000 and $75,000 will be able to apply for Micro Business Grants of $1,500.
Businesses must have experienced a decline in turnover of 30% to be eligible.
The $1,500 payment will be available to micro businesses for every fortnight restrictions continue. Please register your interest in the program here to receive email updates.
UPDATE – NSW BUSINESS GRANTS
This previously announced NSW Business Grants is aimed at supporting businesses that have experienced a downturn in revenue as a direct result of the June/July 2021 lockdowns in NSW.
The grant amounts have been increased, depending on the decline in turnover experienced during the restriction, to the following:
- $15,000 for a 70 per cent decline,
- $7,500 for a 50 per cent decline and
- $5,000 for a 30 per cent decline.
To apply, businesses will need to compare their turnover over for a minimum two-week period after lockdown commenced, to a minimum two-week period in June and/or July 2019. We do not yet have an alternative test period for businesses that were not operating in June/July 2019 but will be in touch as soon as we do.
Applications open on 19 July and please register your interest in the program here to receive email updates.
UPDATE – COVID-19 DISASTER PAYMENT (INDIVIDUALS)
Just to recap from our previous mailouts, this is available to individuals affected by the lockdown due to reduced work hours/lost income and who is not eligible for other support payments.
The changes to note are that the initial payments stand at $325 or $500 per week depending on how much work you have lost, but are set to increase to $375 for anyone who has lost 8-20 hours of work a week or $600 for anyone who has lost 20+ hours per week. Also, rather than being a one-off payment it will now be paid weekly for as long as the lockdown continues.
MUSICKEEPER AND CREWKEEPER CRISIS RELIEF GRANTS
As the names suggest, these one off cash grants of $2,000 ($2,700 for families with dependent children) is intended to cushion the blow for artists, crew and music workers who remain largely unable to earn an income due to ongoing COVID-19 restrictions.
Please see here for more information and to determine your eligibility.
We will continue to be in touch as more details come to hand. Meanwhile, we hope you stay healthy and safe.
