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NSW Small Businesses – State Govt Relief $10,000


On 3rd April, the NSW Government announced a support package of payments up to $10,000 for small businesses operating in NSW. The previous support for Payroll Tax was for businesses paying larger amounts of wages, this one is for businesses the generally do not fall into the Payroll Tax category, and with payroll under $900,000 per annum.


To be eligible, businesses will need to:

  • have between 1-19 employees and a turnover of more than $75,000

  • a payroll below the NSW Government 2019-20 payroll tax threshold of $900,000

  • have an Australian Business Number as at 1 March 2020, be based in NSW and employ staff as at 1 March 2020

  • be highly impacted by the Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020 issued on 30 March 2020

  • use the funding for unavoidable business costs such as utilities, overheads, legal costs and financial advice

  • provide appropriate documentation upon application.


Highly impacted industries


Eligible industries are those that have been subject to closure or are highly impacted by NSW Government health directions in relation to COVID-19 and include:

  • Retail trade

  • Accommodation and food service

  • Rental, hiring and real estate services

  • Administrative and support services

  • Arts and recreation services.


Please click here to access the full article from Service NSW.


Please contact our office on 02 9299 7044 or email us on admin@lockwood.com.au if you have any questions regarding this.

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We are Taxation and Business Advisors in Sydney.

Services include: 

  • Business Taxation advice

  • Personal Income Tax Returns

  • Super and SMSF advice

  • Finance and Mortgages

  • Accounting and Bookkeeping

 

Professional Standing

  • Member: ICAA

  • Licenced Auditors

  • Registered Business Agents

  • Registered Tax Agents

 

Lockwood and Ward • Taxation and Business Advisors • Level 9, 50 Clarence St Sydney NSW 2000

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