Australia
13 July 2021 | Minutes to read: 2

NSW Government’s 2021 COVID-19 Support Package Announced

By Raffi Tenenbaum and Blake Scheffers

The NSW Government has announced a number of support measures to assist businesses in NSW affected by the latest COVID-19 restrictions. Key elements of the program are:

  • Small Business COVID-19 Support Grant;
  • Hospitality and Tourism COVID-19 Support Grant;
  • Extension to the Dine & Discover NSW Program.

Grants

Small Business COVID-19 Support Grant

Small businesses (including sole traders) and not-for-profits will be eligible for the 2021 Small Business COVID-19 Support Grant if they:

  • have fewer than 20 Full Time Equivalent (FTE) employees (including non-employing businesses).
  • have an ABN registered in NSW or can demonstrate they are physically located and primarily operating in NSW. Only one grant is available for a single ABN.
  • have total Australian annual wages below the NSW Government’s 2020-2021 payroll tax threshold of $1,200,000 as at 1 July 2020.
  • have an annual turnover of more than $75,000 as at 1 June 2021.
  • have not applied for, or received, the Hospitality and Tourism COVID-19 Support Grant (see below), and
  • have business costs for which there is no other government support available.

Hospitality and Tourism COVID-19 Support Grant

Hospitality and tourism businesses will be eligible for a Hospitality and Tourism COVID-19 Support Grant if they:

  • have an ANZSIC code that is classified as a tourism or hospitality business;
  • have an ABN registered in NSW or can demonstrate they are physically located and primarily operating in NSW. Only one grant is available for a single ABN.
  • have total annual Australian wages below $10 million as at 1 July 2020.
  • have an annual turnover of more than $75,000 as at 1 June 2021.
  • have not applied for, or received, a 2021 Small Business COVID-19 Support Grant (see above), and
  • have business costs for which there is no other government support available.

Grant Amount

Eligible businesses receiving either the Small Business Grant or the Hospitality and Tourism Grant can receive:

  • $10,000 for a decline in turnover of 70%, or more
  • $7,000 for a decline in turnover of 50%, or more
  • $5,000 for a decline in turnover of 30%, or more.

The decline in turnover is calculated by comparing the business’s turnover over a minimum two-week period after lockdown commenced (26 June 2021), to a minimum two-week period in June and/or July 2019 (not July 2020 as the desired comparison period is specifically June or July 2019 which was pre-COVID).

How to Apply for the Grants

Applications for the Grants can be made through the Service NSW website. No set date has been announced for when applications open, but it is expected that the application process will go live later in July 2021.

Extension to the Dine & Discover NSW Program

The end date for using the Dine & Discover NSW vouchers has been extended to 31 August 2021. The Dine vouchers may also be redeemed on takeaway delivered by a registered business..

2021 Payroll Tax Annual Reconciliation Extended

The NSW Government has announced that the due date for lodgement and payment of the 2021 annual payroll tax reconciliation has been extended to 30 August 2021.

However, the July 2021 monthly return remains unchanged and payments are due on 9 August 2021. Find out more.

For assistance in applying for these grants or advice on managing your business through COVID-19, please contact your William Buck advisor.

NSW Government’s 2021 COVID-19 Support Package Announced

Raffi Tenenbaum

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NSW Government’s 2021 COVID-19 Support Package Announced

Blake Scheffers

Blake is a Tax Consultant in our Tax division. Blake builds strong relationships to provide the best solution for his clients. Blake provides tax advisory services to SMEs/family owned businesses and larger privately owned companies including on capital gains tax, business structuring and restructuring, Division 7A and employee share schemes. He has been a key adviser in assisting businesses access vital COVID-19 government support, staying at the forefront of latest developments to help clients manage through the pandemic. Blake’s previous experience in our business advisory division provides him with a valuable understanding of businesses to ensure practical solutions can be found.

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