- The package includes grants of between A$5,000 and A$10,000
- The Dine & Discover program will be extended to 31 August
- Payroll tax deferrals for all employers
The NSW Government has announced a major new grants package and changes to the Dine & Discover program to help tens of thousands of small businesses and people affected by the current COVID-19 restrictions.
The package includes grants of between A$5000 and A$10,000 for small businesses, payroll tax deferrals for all employers, an extension of the Dine & Discover program to 31 August and the ability for people to use Dine & Discover vouchers for takeaway delivered directly to their homes by the venue itself.
“We welcome the announcement by the NSW Government to support small business and the hospitality and tourism sectors that are doing it tough right now during the lockdown,” said CA ANZ Senior Tax Advocate Susan Franks.
“It is too early to determine whether the up to $10,000 grants will be sufficient for businesses as much will depend on how long the lockdown lasts and the size of the affected business.
“The importance of keeping your records accurate and up to date has been highlighted once again, with easy access to the support being dependent upon your business address in the Australian Business Registry being recorded as being in NSW. We have been urging businesses to ensure that this vital piece of information is correct.
“Lessons learnt from the implementation of the Federal COVID measures last year that the NSW Government could learn from include ensuring that the eligibility criteria are easy to understand and that guidance is available to cover common questions around turnover.”
Some of the common questions include:
- Will turnover mean turnover of each legal entity, or aggregated group turnover?
- How is turnover determined if a business has been transferred between legal entities?
- How is the $75,000 turnover threshold to be determined for new businesses and for businesses that have operated for only part of the year?