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Business financial support
Waverley Council's COVID-19 Business Relief Package has concluded. Please refer to relevant Federal and State government websites for updates.
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.
For information on all support measures available from the NSW Government, please click here
The state government also offer a number of grants and incentives for businesses. For the latest information and news on grants available, please click here
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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