A well-timed state wide support package from the State Government aimed at helping businesses through the COVID lockdown will be gratefully received, according to the regions peak business organisation, Business Hunter.
The package has been announced by the Premier and Treasurer as the impacts of the Greater Sydney region lockdown begins to dramatically hit the bottom line of business owners right across the state.
“The package is particularly well targeted and will start to hit the accounts of business owners from next month,” said Business Hunter Chief Executive Officer Bob Hawes.
“Our affiliate Business NSW has been working with the Government on this initiative since the lockdown was confirmed on Saturday, and by using the real experiences of our members, we were able to demonstrate the widespread need for a quick turn-around for this package,” Mr Hawes said.
“We’re impressed with the speed of the response from the State Government and know businesses and their employees will take a lot of confidence from the package.
“For small businesses of 20 or fewer employees including sole traders, they’ll be eligible for grants of either $5000, $7000 or $10,000, depending on the nature of the loss in turnover they can demonstrate. A tourism or hospitality related business can claim the grants if they have turnover of more than $75,000 and an annual wages bill less than $10 million each year.
“In simple terms, non-Payroll Tax paying businesses who have suffered as a result of the lockdown can access a grant and have that in their account by mid to late July.
“This package is based on what was used on the Northern Beaches following the shutdown over Christmas and takes into account feedback from the Small Business Commissioner, impacted businesses and local chambers of commerce.
“The State Government has also included some other measures which Business Hunter says will benefit operations across the region:
- Dine & Discover vouchers will be able to be used for takeaway meals subject to certain conditions;
- A further one-month extension of Dine & Discover vouchers until 31 August 2021 to allow people more time to use them.
- Optional deferral of payroll tax payments and gaming machine tax, with the Chief Commissioner of State Revenue able to provide for appropriate repayment arrangements on a case by case basis.
“We all want the restrictions to be lifted as soon as possible, so the community can be re-engaged and businesses can get back to doing what they do best, employing people and supporting their local communities,” Mr Hawes said.