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COVID-19: Business JobSaver program expanded Posted on August 10, 2021

jobsaver

The joint NSW Government and Commonwealth JobSaver program has been expanded to further support businesses and individuals impacted by the extended lockdown. Here’s what’s changed:

The maximum weekly payment has also been substantially increased, with employing businesses that maintain their employee headcount now able receive between $1,500 and $100,000 per week, up from $10,000, with payments based on 40 per cent of their weekly NSW payroll.

JobSaver payments will now be available to businesses with an annual turnover of between $75,000 and $250 million, up from $50 million, which have experienced a revenue decline of 30 per cent or more.

Also in July, Treasurer Dominic Perrottet said further payroll tax relief was being made available through Revenue NSW, with payroll tax deferrals already available for all businesses and a 25 per cent reduction on the 2021-22 payroll tax reconciliation for eligible businesses.

All NSW businesses who have a payroll tax liability have the option of deferring lodgement and payment of their 2020/21 annual reconciliation until 7 October 2021. Customers required to lodge monthly returns will also have the option of deferring their returns due in August and September until 7 October 2021.

In addition, all payroll tax customers that defer their payments are eligible for an interest free payment plan of up to 12 months. Businesses with wages between $1.2 million and $10 million that have experienced a 30 per cent decline in turnover will get a 25 per cent reduction of their 2021/22 payroll tax. This will deliver even more support to smaller businesses.

For support in understanding, applying for, and activating these support measures, our team of accountants is available to help protect and boost your cashflow. Contact us on [email protected]

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