HELP FOR BUSINESSES
We have heard from many of you about how expensive it is trying to pay rent and keep your employees paid, through this lockdown. We want you to know that we have some mental health resources available to you, as well as a concierge service where someone can talk with you and connect you with some people and resources to help get through this very challenging time.
What Support Do You Qualify For?
That depends on the size and type of your business.
Businesses with a turnover of between $30k and $75k
If you experience a decline in turnover of 30% or more, you will be eligible for a $1.5k payment per fortnight of restrictions. See 'new grants program for micro businesses' on Service NSW for how to apply.
Businesses with a turnover of more than $75k If you experience a decline in turnover of 30% or more, you may be eligible for a grant of $7.5k - $15k payment cover the first three-weeks of restrictions. See 'business grants program' on Service NSW for how to apply.
There is also a new scheme to provide cash flow support to businesses. Businesses with no employees could receive up to $1,000 per week.
If you have employees
Employing businesses to receive fortnightly payments of up to 40% of payroll, to a maximum of $10,000 per week (on the basis that they maintain employee headcount).
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, as well as payroll tax deferrals and interest free repayment plans.
The NSW Government Fees and Charges Rebate program remains open. This program offers rebates of up to $1.5k to cover business associated fees or charges. Eg. vehicle registration, council rates, tradesperson licenses.
• Applications for employee payments now open.
• Applications for business grants will open on 19 July. Payments to commence from 23 July.
• Applications for business cash flow payments will open on 26 July. Payments to commence from 30 July.
Funding Information for Specific Sectors
• $12 million in additional funding for temporary accommodation for those at risk of or experiencing homelessness.
• Deferral of gaming tax assessments for clubs until 21 December 2021 and hotels until 21 January 2021. • $75 million support package for the performing arts sector to be administered by Create NSW. • $26 million support package for the accommodation sector. • $5.1 million in NSW funding to support mental health.
Residential and commercial land tax
• A capped grant of up to $1,500 for residential landlords who are not liable to pay land tax, and who reduce rent for tenants. • Land tax relief equal to the value of rent reductions provided by commercial, retail and residential landlords to financially distressed tenants, up to 100% of the 2021 land tax year liability.
Residential, retail and commercial tenants • Introduction of legislative amendments to ensure a short-term eviction moratorium for rental arrears where a residential tenant suffers loss of income of 25% due to COVID-19 and meets a range of criteria. • No recovery of security bonds, or lockouts or evictions of impacted retail and commercial tenants prior to mediation.
Support package redemption
We are lucky enough to live in a country where support is available so please do apply for it. Plenty of businesses have done so and here's an update on the Northern Beaches as of 9th July 2021 of businesses that have received support.
Dine and Discover Businesses registered: 524 Residents registered to redeem vouchers: 159,443
Vouchers redeemed: 287,124 subsidised meals and experiences, to the value of $7.1M.
Northern Beaches Small Business Hardship Grants $5,000 hardship grant = 2,122 businesses redeemed this grant, to the value of $10.610 million. $3,000 hardship grant = 373 businesses redeemed this grant, to the value of $1.119 million.
In total we are proud of the 2495 businesses who reached out for help and helped us put $11.729 million back into the economy.
How are you feeling managing all of this?
Now you may or may not be feeling overwhelmed by all of this. Please know that even if you're struggling a little bit, it's good to reach out to someone to talk. The earlier, the better. Just ask the question and connect with someone who may give you the compassion you need.