Financial Rescue Package To Provide Quick Relief for Local Businesses

29 Jun 2021 health cost_of_living

The Central Coast’s hospitality and tourism sector will be targeted in the NSW Government’s financial rescue package, with hundreds of millions of dollars committed to help businesses through the two-week lockdown.

Parliamentary Secretary for the Central Coast and Member for Terrigal Adam Crouch said the package would keep doors open for businesses and keep people in jobs.

“I have written to the Premier, Treasurer and Small Business Minister asking for this support and I thank them for responding so positively and promptly,” Mr Crouch said.

“Tourism, hospitality and accommodation providers rely on the busy school holiday period to keep afloat and that’s why this rescue package is targeted at helping them.”

The NSW Government’s financial rescue package includes:
- One-off payments between $5,000 and $10,000 for small businesses, with:
o $10,000 for businesses with a 70 per cent decline in turnover,
o $7,000 for businesses with a 50 per cent decline in turnover, and
o $5,000 for businesses with a 30 per cent decline in turnover.
- The extension of Dine & Discover NSW vouchers to 31 August.
- For the first time, the ability to use Dine & Discover NSW vouchers for home delivery.
- Payroll tax deferrals for small, medium and large businesses.

“The one-off payments are designed to be flexible and will allow business owners to cover the cost of utilities, Council rates, telecommunications bills, insurance payments, wages and any other bills,” Mr Crouch said.

Business NSW Regional Director Paula Martin said the rescue package would be welcomed by Central Coast businesses, particularly those in the tourism, events and hospitality industries.

“This will be one of the fastest and largest business support packages from any State in Australia in response to the pandemic, and we look forward to a speedy implementation,” Ms Martin said.

“It’s often easy to sit back and criticise the Government but when they act quickly and for the benefit of business owners and their employees, they rightly deserve credit.

“The package is particularly well-targeted and will start to hit the accounts of business owners from next month.”

Funding will be made available through Service NSW on 19 July, as business owners need to provide proof of their decline in turnover in order to apply.

The NSW Government has also committed $10.3 million to help get people sleeping rough off the streets and into temporary accommodation throughout the period of the two-week lockdown, and to help these rough sleepers transition from temporary accommodation into secure, long-term housing.

For more information on the financial rescue package, go to: