The following is a summary of key relief incentives released by the NSW government and the City of Sydney.
(The following information is correct as at 25 March 2020)
- 2021 payroll tax threshold to be increased to $1 million.
- Waiver of payroll tax for the final 2020 June quarter for businesses with payrolls of up to $10 million.
How to apply: Automatic, expected to be applied to the next monthly return.
- Fast track of the next round of payroll tax cuts will raise the threshold limit to $1 million for the 2020-21 financial year
How to apply: Automatic, expected to be applied to monthly returns from 1 July.
- Waiver of some charges and licencing fees for small businesses including bars, cafes, restaurants and tradespeople.
The NSW State Government are yet to specify eligibility and which fees will be waived.
- $250 million to employ additional cleaners of public infrastructure including public transport and schools as well as bringing forward of maintenance on public assets, bring forward capital works projects.
City of Sydney Council relief package
- Rent relief for eligible tenants.
- Refunds for venue fees and advertising bookings.
- Coverage of costs for aquatic centres so casual workers are paid.
- Waiver of outdoor dining fees and fines for using a footpath without a permit.
- Parking fines will only be issued if there is “an imminent public or environmental health or safety risk”.
For all the latest updates on the NSW stimulus package, please visit preview.nsw.gov.au/Covid-19
It is likely additional measures will be announced in the future as the COVID-19 crisis continues to change almost daily and governments continue look to assist business and jobs.
Read more about the Federal Government incentives:
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