The NSW government has announced extensions to the JobSaver program, Micro-business Grant, and payroll tax deferrals for businesses affected by COVID-19.

Extension to JobSaver

The JobSaver program will be extended from 28 August 2021. The program provides eligible businesses with turnover from $75,000 to $250 million that have experienced a 30% decline in turnover with payments of up to 40% of their pre-COVID-19 weekly NSW payroll.

A lower decline in turnover requirement of 15% will apply for not-for-profit organisations in the social support and animal welfare sectors with a turnover from $75,000 to $250 million. Eligible not-for-profit organisations will be able to apply for backdated payments later in September.

The program has also been extended to eligible businesses in the hospitality, tourism and recreation sectors with turnover from $250 million to $1 billion that have experienced the requisite decline in turnover.

Extension to Micro-business Grant

The Micro-business Grant will be extended from 28 August 2021. The grant provides fortnightly payments of $1,500 for eligible small businesses, sole traders and not-for-profit organisations with annual turnover between $30,000 and $75,000.

Payroll tax deferrals and waivers

Businesses eligible for a 2021 COVID-19 Business Grant or JobSaver with annual payroll under $10 million will be eligible for a 2021–22 payroll tax waiver of 50% (increased from 25%).

All businesses will have the option to defer payroll tax payments due from July 2021 through to December 2021. The payments will not be due until 14 January 2022 and interest-free repayment plans for up to 12 months will be made available.

Note that 2020–21 annual payroll tax reconciliations are still due for lodgment on 7 October 2021.

Further information on NSW payroll tax relief is available on the RevenueNSW website.

Support for landlords

A monthly grant of $3,000 will be available to eligible commercial and retail landlords that provide rental waivers to COVID-19 impacted tenants and have not claimed land tax relief.

Eligible residential landlords will have the choice to apply for either land tax relief or a further payment of $1,500 if they agree to reduce rent for COVID-19 impacted tenants by at least $4,500.

Applications will open in October.

Eligibility:

• Taxable landholdings less than $5m at 31 December 2020
• Have not claimed land tax relief for the relevant property for the period 1/7/21-31/12/21
• Gross rental income must represent more than 50% of total assessable income for the entity
• Landlord must provide rent relief to their commercial/retail tenant (note rent waiver taken into account not rent deferral)

If you require any assistance navigating the extension updates please contact us.

Source: NSW Government, COVID-19 economic support measures extended, [media release], 2 September 2021, accessed 2 September 2021.