$5.1 Billion To Keep Workers And Businesses Afloat
13 Jul 2021
Central Coast workers and businesses will be supported with a multi-billion-dollar lifeline, part of the second financial “rescue package” to be announced in the space of 15 days.
Parliamentary Secretary for the Central Coast and Member for Terrigal Adam Crouch said the NSW Government is contributing $4.1 billion and the Federal Government is contributing $1 billion.
“Our three aims are to protect businesses, keep workers in jobs, and ensure people have support during this difficult and uncertain time,” Mr Crouch said.
“While following the Health advice must be our number one priority, it’s vital that we also provide financial assistance to help workers and businesses get through the lockdown.”
The rescue package provides comprehensive support to workers and businesses:
- The previously announced one-off business grants of $5,000, $7,000 and $10,000 will be increased to $7,500, $10,500 and $15,000.
“Micro” businesses with an annual turnover between $30,000 and $75,000 which experience a 30% decline in turnover will receive a fortnightly grant of $1,500.
- Businesses that do not sack staff will receive a fortnightly payment between $1,500 and $10,000 as part of a new Saving Jobs program.
- Businesses with a wages bill below $10 million which experience a 30% decline in turnover will have 25% of their payroll tax waived.
- On 18 July, the current weekly payments to workers of $325 and $500 will be increased by $50 and $100 respectively.
- $26 million will be provided to the short-term accommodation sector, with $2,000 grants for up to 10 nights lost and $5,000 grants for 11 or more nights lost.
- $75 million will be provided to the performing arts sector, with grants to be based on the proportion of revenue lost.
- Commercial, retail and residential landlords who provide rent relief to their tenants can have up to 100% of their land tax bill waived.
- Residential landlords who do not pay land tax, and who provide rent relief to their tenants, can receive grants of up to $1,500.
- New laws will be passed to place a 60-day moratorium on evictions for rental arrears.
- $5.1 million will be allocated to fund mental health initiatives.
- $12 million in additional funding will be allocated to provide temporary accommodation for 3,750 people at risk of or experiencing homelessness, and to transition these people into secure and long-term housing.
“I met with the Premier last Friday to highlight the concerns of local business owners and want to thank her for responding so positively through the provision of this rescue package,” Mr Crouch said.
“I also want to thank local leaders Paula Martin and Matthew Lusted for their feedback which ensured more support is extended to more Central Coast businesses.
“We are all in this together and must ensure that no worker or business slips through the cracks during the days and weeks to come.”
Service NSW will administer the business grants and applications will open shortly. For more information and to receive a notification when applications open, go to: www.service.nsw.gov.au/covid-19-business-support-2021.