The NSW Government, on Wed 28.7.2021, announced changes to a key support measure for businesses impacted by the ongoing lockdown. The changes, for business, affect what the NSW Government terms its JobSaver package. This was a companion announcement, issued on the same day, as the one issued by the Federal Government, of their increased support for individuals (see related TT article).
See below for further details.
There are 2 important changes:
- JobSaver payments will now be available to businesses with an annual turnover of between $75,000 and $250 million, which have experienced a revenue decline of 30% or more. This is up from the original $50 million; and
- the maximum weekly payment has also increased, with employing businesses that maintain their employee headcount now able receive between $1,500 and $100,000 per week. This is up from $10,000. Payments are based on 40% of their weekly NSW payroll.
These changes will be backdated, so businesses that have already received a first payment on previous settings will be topped up when their next payment is made.
Non-employing business remain eligible for a maximum of $1,000 per week.
More information on the various NSW support measures for businesses can be found on the designated support package webpage. Individuals affected by the lockdown should check this Services Australia webpage.