NSW unveils corporate bailout
Small businesses in New South Wales that have suffered a hard hit in sales will be eligible for a cash infusion of up to $ 10,000, the NSW treasurer said.
Dominic Perrottet has finally released details of the highly anticipated business support program that he says will be available to small and medium businesses across the state, not just in COVID hotspots forced into lockdown.
Small businesses with 20 or fewer employees who can prove a 75% drop in sales will be eligible for payments of $ 10,000, Perrottet said.
Businesses that can prove a 50% reduction in sales will receive a payment of $ 7,000, while businesses that experience a 30% decrease in sales may receive $ 5,000.
“Our message today to all businesses and people in New South Wales is that we stand with you,” said Perrottet.
Payments will also be available for the tourism, hospitality and accommodation sectors with payrolls of up to $ 10 million, he said, as well as for independent traders and non-profit organizations. lucrative.
The hotels will also be exempt from payroll taxes and gambling taxes “for the period from July to August,” he added. “This will provide affected businesses with the liquidity they need during these difficult times. “
The cash increases will be available later this month, Perrotet confirmed. “The funds will be available from July 19.”
Dine & Discover vouchers extended again
The NSW treasurer also urged landlords to “work with tenants” who were struggling to make their payments amid the foreclosure.
“As we have said over the past 18 months, we are all in the same boat. We are deferring these responsibilities and want to make sure that landlords support their tenants during this time. “
The support program announced today is also good news for NSW residents who have yet to redeem the $ 100 Dine and Discover vouchers, which have now been extended until August 31.
Vouchers can now also be used for take out food to be delivered to their doorstep.
“We have always said that we will do everything in our power to support businesses and keep people working during the pandemic and that is exactly what we are doing,” said NSW Premier Gladys Berejiklian.
“Unfortunately, businesses continue to incur costs such as rent, electricity and lost product, and this will go some way to alleviate this financial pain.”
The support program is expected to cost NSW state coffers “hundreds of millions of dollars,” Perrottet said.
What about the workers?
The federal government has reported that Sydney-based workers are eligible for COVID lockdown payments of $ 500 – but only if they have been out of work for more than a week.
Payments are eligible for workers in regions defined as COVID hotspots, but you will need to have lost income for at least seven days to access it.
“The Commonwealth Government also provides support to individuals and casual workers, so if you are a casual worker and your hours have been reduced by more than 20 hours, you are entitled to $ 500 per week – less than $ 325 per week. week. – and I ask these people to go to Services Australia to get this information, ”Perrotet said.
Those who have been made homeless since the lockdown will also receive aid of $ 10.3 million, which will be provided to help street sleepers find temporary accommodation.