To be eligible businesses will need to:
• Have between 1-19 employees and a turnover of more than $75,000;
• Have a payroll below the NSW Government 2019-20 payroll tax threshold of $900,000;
• Have an Australian Business Number as at 1 March 2020, be based in NSW and
• employ staff as at 1 March 2020;
• Be highly impacted by the Public Health (COVID-19 Restrictions on Gathering and
• Movement) Order 2020 issued on 30 March 2020;
• Use the funding for unavoidable business costs such as utilities, overheads, legal costs and financial advice;
• Provide appropriate documentation upon application.
Applications will be available through Service NSW within a fortnight and remain open until 30 June 2020. For further details, click here.
“This is another generous initiative from the NSW Government which is trying to support businesses and their employees as best they can through these unparalleled times,” said Business NSW Chief Executive Stephen Cartwright.
“While previous announcements from the NSW Government have centred around concessions for those businesses that are large enough to pay Payroll Tax, this latest fund is aimed at small ‘mum and dad’ businesses with a couple of employees who may have had to close or vastly reduce their operating hours as the pandemic took hold,” Mr Cartwright said.
“This latest initiative is particularly important for the survival of these smaller businesses and has been something that Business NSW has been championing since the start of the crisis. We were concerned that this important cohort of businesses were falling through the cracks and missing out on the various types of government support packages.