Published on Jul 13, 2021
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The NSW Government has announced a major new grants package and changes to the Dine & Discover program to help small businesses and people across NSW impacted by the current COVID-19 restrictions.
The package includes grants of between $5000 and $10,000 for small businesses, payroll tax deferrals for all employers, and an extension of the Dine & Discover program to 31 August 2021.
The focus of the package is the small business support grants which will help businesses by alleviating cashflow constraints while trading is restricted.
The funds can be used for business expenses such as rent, utilities and wages, for which no other government support is available.
Three different grant amounts will be available for small businesses depending on the decline in turnover experienced during the restrictions:
- $10,000 for a 70 per cent decline
- $7000 for a 50 per cent decline
- $5000 for a 30 per cent decline
The small business grants will be available for sole traders and non-for-profit organisations, with expanded criteria to assist hospitality and tourism operators hit hard by the restrictions during school holidays.
Businesses will be able to apply for the grants through Service NSW later in July and will need to show a decline in turnover across a minimum two-week period after the commencement of major restrictions on June 26.
The grants will be divided into two streams:
- Small Business COVID-19 Support Grant available to businesses and sole traders with a turnover of more than $75,000 per annum but below the NSW Government 2020 21 payroll tax threshold of $1,200,000 as at 1 July 2020.
- Hospitality and Tourism COVID-19 Support Grant available to tourism or hospitality businesses that have a turnover of more than $75,000 and an annual Australian wages bill of below $10 million, as at 1 July 2020.
More information on the small business support grants and changes to the Dine & Discover program are available on the Service NSW website.
It’s not too late, you can register your business here and residents can sign up here to access their vouchers and get out and about and support local dining, arts and recreation businesses when it is safe to do so.