NSW Gives $10,000 To Small Businesses Hit By Coronavirus Crisis
Small businesses who do not pay tax on their payrolls will be eligible for a $10,000 grant, as NSW tries to soften the blow on the economy during its harsh lockdown period.
While providing an update on Covid-19 this morning, Premier Gladys Berejiklian said while there has been a lot of support offered for businesses who pay tax, there's a proportion of smaller businesses who don't pay payroll tax or other tax who need the same help.
"The treasurer will outline today a special package in NSW providing a $10,000 grant to those smaller businesses that don't have the payroll tax burden on them," she explained.
"[These businesses] to date have fallen through the cracks. We want to make sure we support them as much as we can."
To be eligible businesses must not pay payroll tax, have between one and 19 employees, a turnover of more than $75,000 and must be able to prove there has been a downturn in business.
Treasurer Dominic Perrottet said the grant, which will total a $750 million investment, would help with fixed costs such as utilities and rent.
"Those businesses have been severely affected by this [coronavirus pandemic] and this will make sure they remain open and keep people in work during this time," he said while fronting the media this morning.
Perrottet said small businesses were "the lifeblood" of the NSW economy, and the grant would also help those who had already closed to reopen "once this pandemic has passed".
“We have the structures in place after the bushfires and expect to see this money rolling out the door shortly," he said.
“This is real, rapid relief for tens of thousands of businesses and it will help ensure many businesses that are not eligible for payroll tax waivers and deferrals can live to trade another day.”
Service NSW will begin taking applications within the next two weeks and will continue to do so until June 1.
There are now 2,389 confirmed cases of coronavirus in NSW after 91 people were diagnosed yesterday. The death toll stands at 10.
Berejiklian said the next challenge would be cracking down on community transmission of the disease.
"When you don't know the source, that is the real concern for us," she confessed.
She also confessed authorities could have handled aspects of the pandemic better but argued no one is perfect and it would be unfair to point the finger.
"It's a joint responsibility and we all need to step up," Berejiklian added.
More than one million people worldwide have now tested positive to the deadly disease.
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