Premier Gladys Berejiklian, Prime Minister Scott Morrison and Treasurer Dominic Perrottet announced a comprehensive economic support package worth billions of dollars aimed at helping businesses and people right across the state fight through the current COVID-19 lockdown.
The commitment will now be up to $5.1 billion, including more than $1 billion from the Commonwealth as part of a business and employee support program.
The business grants program announced two weeks ago has been expanded, with grants between $7,500 and $15,000 available to eligible businesses with annual wages up to $10 million. A new grant program has also been introduced for smaller micro businesses with turnover between $30,000 and $75,000.
Thousands of employees will also be protected with NSW committing half of a new $2.1 billion business and employee support program to be delivered together with the Commonwealth.
Businesses will benefit from payroll tax waivers of 25 per cent for businesses with Australian wages of between $1.2 million and $10 million that have experienced a 30 per cent decline in turnover.
The NSW Government will also cover the disaster recovery payments for areas outside the Commonwealth declared hotspot from week four of the NSW lockdown providing valuable support across the state.
Residential tenants will have greater protection with a targeted eviction moratorium. Residential landlords who decrease rent for impacted tenants can apply for a grant of up to $1,500 or land tax reductions depending on their circumstances.
Commercial and retail landlords will need to attempt mediation before recovering a security bond, or locking out or evicting a tenant impacted by the Public Health Order.
Commercial, retail and residential landlords liable for land tax will be eligible for a land tax concession where they reduce the rent of their tenant.
Key components of the 2021 COVID-19 package include:













Image source: Sydney Morning Herald.
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