In light of the pandemic and how it is still affecting business in 2021, the NSW Government has announced further relief programs to help small businesses deal with the new effects of COVID-19 NSW.
Currently, there are numerous lockdowns reaching from the Victorian border all the way up to the Queensland border. COVID-19 in NSW has had an extremely strong impact on the economy, almost more than any other state. The NSW Government and the ATO have been revising how they can best provide relief to small business owners in these areas. This important decision has been made to help keep the economy going through these difficult times.
The measures they are making to assist are:
- Granting the possibility to defer tax returns due in August and September until 7 October 2021*
- A 25% reduction of 2021/22 payroll tax for businesses. Note: wages between $1.2m and $10m that have experienced a 30% decline in turnover *
- A one-off grant of $7,500, $10,500 or $15,000* (if eligible)
* NOTE: these programs have an eligibility obligation that needs to be fulfilled. For more information, check the links attached.
To see the eligibility and grants available – head over to the official NSW Government website for information. Or visit the links here regarding the one-off grant, or here for tax relief information.
If you need extra assistance with the new COVID-19NSW grants
If you are still not too sure of the benefits and assistance you can receive for your business while going through the COVID-19 NSW newest phase, be sure to virtually contact our staff to organise an appointment with one of our specialist accountants.
No matter the accounting question, or need, our accountants offer creative solutions personalised for your needs. As we charge by package, it means you won’t receive any unexpected accounting bills from us. What you see is what you get. Give us a call on (07) 5536 3755 or contact us, to discuss your options.