Projections from earlier in the week by the Population Interventions Unit at the University of Melbourne estimated that Sydney’s stay-at-home orders would need to be extended into September to get the latest outbreak under control, meaning businesses could be facing prolonged closure.
On Friday, facing yet another day of rising case numbers, NSW Premier Gladys Berejiklian declared the situation as a “national emergency”.
While some business owners have said the new federal and state support grants are not sufficient to weather lockdown losses, with many calling for the reinstatement of JobKeeper, new details have emerged about the payroll tax reduction and the deferral scheme announced by the state government earlier this month.
According to a new statement issued by the state treasurer, any business that carries a payroll tax liability now has the option to defer lodgement and payment of their 2020–21 annual reconciliation until 7 October 2021.
Payroll tax customers who are ordinarily required to lodge monthly returns will also have the option of deferring their returns due in August and September until 7 October 2021.
Moreover, as underlined by Damien Tudehope, anyone who chooses to defer their payments is eligible for an interest-free payment plan of up to 12 months.
Additionally, businesses with annual wages between $1.2 million and $10 million that can prove a 30 per cent decline in turnover over a similar period in 2019 are set to receive a 25 per cent reduction in their 2021–22 payroll tax.
Businesses across NSW are eligible for the reductions and deferrals.
“We know the effects of restrictions are being felt right across the state and that’s why we have ensured that all payroll tax customers are able to take advantage of the deferral and repayment options, regardless of size or geographical location,” said Mr Tudehope.
Treasurer Dominic Perrottet noted these payroll tax measures are part of more than $4 billion in funding the state government has committed to helping small businesses.
“We have said right throughout the pandemic that we would put people, businesses and jobs ahead of the budget, which is why we are rolling out a record business support program,” Mr Perrottet said.