October 10 Update on Small Business Financial Support

Changes to JobSaver and Micro-business grant payments.

From 10 October when NSW reaches 70% double vaccination, JobSaver payments will be reduced from 40% to 30% of business weekly payroll, with minimum payment of $1,500 to 100,000.

When double vaccination reaches 80% starting, JobSaver payment will reduce to 15% of weekly payroll starting from 24 October.

For regional NSW, the change will take effect from 31 October 2021.

Micro-business grant will drop from $1,500 to $750 a fortnight when double vaccination reaches 80% starting from 30 October.

Both payments will cut out on 30 November 2021.

Updates on Small business fees and charges rebate

The rebate has been increased from $1,500 to $2,000 starting from November. The Government also now allow businesses to claim road tolls under this rebate.

This rebate is available until 30 June 2022.

Stock Guarantee Compensation

The NSW Government is providing further financial assistance for businesses to compensate the loss of perishable stock if they are forced to go into lockdown between 1 December 2021 and 31 January 2022 due to public health orders.

How much

•   A grant of up to $20,000 for loss of perishable stock. OR

•   Receive a claim of $10,000 for reduced capacity to sell non-perishable items.

Eligibility

•   For business with annual turnover between $75,000 and $50 million.

We will provide more details on eligibility and how to apply once they are available.

Source: Service NSW