Business financial support

All levels of government are here to support you through this difficult time. Please see below for details on what grants, rebates and other incentives are available to support your business, including the NSW Government's newly announced Business Support Package.

Local Government Support

Following an extraordinary meeting last night, Waverley Council has agreed to another round of business support measures to help local businesses during the current lockdown period.

Financial relief measures that have been agreed to include:

  • Suspension of footpath seating fees
  • Fees for sporting groups and venue hirers have been waived for the duration of the stay-at-home orders
  • Commercial waste fees and charges have also been reduced due to reduced service level requirements

Non-financial measures to ease business burden include:

  • Relaxed enforcement of conditions of consent for restaurants to enable trade as takeaway-only services
  • The continuation of Council’s capital works program to support employment in the construction sector
  • Procurement from local suppliers if consistent with statutory procurement regulations and prescribed delegations.

State Government Support

COVID-19 Business Support Package

On Tuesday 13 July, the NSW Government announced a comprehensive economic support package worth billions of dollars aimed at helping businesses fight through the current COVID-19 lockdown.

Check out this handy table which outlines all the financial support options available for individuals and businesses.

For information on the Small Business Fees & Charges Rebate, please click here

Federal Government Support

RELIEF MEASURES AS AT 16 JULY 2021

COVID-19 Disaster Payment

A COVID-19 Disaster Payment will be available from 1 July 2021. The payment is $600 each week if a person has lost 20 hours or more of work a week, or $325 to $375 each week if a person has lost between 8 to 20 hours of work.

The COVID-19 Disaster Payment is a recurring payment for approved recipients for as long as the Commonwealth-declared hotspots and lockdown restrictions remain in place. This will remove the need for recipients to reclaim for each seven-day period of a lockdown.

The COVID-19 Disaster Payment includes those still working, provided they have lost more than 8 hours or a full day of work.

Find out more about eligibility here

Small and medium business support payments

Commonwealth support in conjunction with Service NSW. Please see the State Support section above for full details on how to supply.

Tax refunds

The Commonwealth will also provide additional support through the tax system by:

  • Making NSW small business grants, including the new small business payments, tax exempt
  • Providing administrative relief to NSW taxpayers facing hardship, including reduced payment plans, no interest charged on late payments and varying instalments on request.

Find out more here

Temporary full expensing extension

On 6 October 2020, as part of the 2020–21 Budget, the government announced it will support businesses and encourage new investment, through a temporary full expensing incentive. This measure is now law.

Businesses with an aggregated turnover of less than $5 billion can immediately deduct the business portion of the cost of new eligible depreciating assets. Corporate tax entities unable to meet the $5 billion turnover test can still be eligible for temporary full expensing under an alternative test.

The eligible new assets must be first held and first used, or installed ready for use for a taxable purpose, between 7:30pm AEDT on 6 October 2020 and 30 June 2022.

Find out more here

Boosting Apprenticeship Commencements

An additional $2.7 billion has been allocated to extend the Boosting Apprenticeship Commencements program. Businesses or Group Training Organisations (GTOs) that engage an Australian Apprentice may be eligible for a subsidy of 50 per cent of wages paid, for a 12‑month period from the date of commencement, to a maximum of $7,000 per quarter. Find out more here

Temporary JobMaker hiring credit

The federal government is providing incentives of up to $200 per week for 12 months for businesses to create more jobs for young employees aged 16 - 35 years. Eligible employers can access the JobMaker Hiring Credit for each eligible additional employee they hire between 7 October 2020 and 6 October 2021. Find out more here

Mental health support

The Commonwealth and NSW governments will deliver a $17.35 million mental health support package for NSW including:

  • A boost for crisis and mental health services including for Lifeline, free 24 hour support via Sonder and counselling for perinatal depression and anxiety
  • Funding for mental health support for vulnerable and culturally and linguistically diverse communities
  • Assistance for young people through headspace, Kids Helpline and the Butterfly Foundation
  • Increase in support for states and territories experiencing extended lockdowns is part of the Government’s plan to secure Australia’s recovery from the COVID-19 recession.

The support comes in addition to existing Commonwealth programs such as HomeBuilder, the expanded instant asset write off, additional support for retaining and training apprentices as well as record support for mental health and women’s safety announced in the Budget.

As the pandemic evolves, so too does the Government’s support for Australians across the country.

Contact us

Council is here to help. To speak with a member of our Economic Development team, please click here.

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