Business support upate

The JobSaver financial support program for businesses has been extended until to 30th of November, with payments tapered in line with vaccination milestones. The deadline for support payments is October 18th, 2021.

Is this enough?

NSW Opposition Leader Chris Minns has challenge decreased support payments in his budget reply, arguing that businesses will need additional support in 2022. He has called for an extension of the JobSaver payroll program and a 12-month payroll tax cut extension (of 5.45 percent to 4.85 percent).

In a survey conducted by Business NSW, 53% of businesses would have closed if not for the pandemic support. However, only 40% of business owners believed the COVID-19 assistance programs would allow them to “snap back.”

What you need to know:

  • JobSaver:

. At 70% double vaccination payment will reduce from 40% of weekly payroll to 30%

. At 80% double vaccination payments will reduce from 30% of weekly payroll to 15%

If you have not applied, the cut off is October 18th. Apply here.

  • Micro-business grants:

When NSW reaches 80% double vaccination, payment will reduce from $1500 to $750 per fortnight.

If you haven’t applied, the cut off is October 18th. Apply here.

  • Hardship Review Panel:

If your business is not eligible for the JobSaver program, or you have previously been knocked back, you can apply to the Hardship Review panel.

Eligibility will be assessed before you submit your application. If your business meets the eligibility criteria you will receive a call from the Service NSW business concierge.

Applications for the business grant and micro-business grant will be available from Tuesday 19th of October.

Beauty businesses and small businesses were disproportionately affected during this year’s lockdowns. Read about NSW the challenges faced by the industry, including staff and client retention and access to grants and support here.

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