NSW COVID-19 support package – Be ‘cautious but optimistic’

Published July 13, 2021 -
COVID Business Support

Employers should be cautious but optimistic following the announcement by the Federal and New South Wales Governments of the new COVID-19 business support package.

From week four of the lockdown, eligible New South Wales businesses that have lost at least 30 per cent of their turnover, will be able to access 40 per cent of their NSW payroll payments, at a minimum of $1500 and a maximum of $10,000 per week.

The payments will apply to businesses, which includes not for profits, that have an annual turnover between $75,000 and $50 million. As a requirement, employers must maintain their full time, part time and long-term casual staffing level as of 13 July, 2021.

“While employers wait for the first payments to hit their bank account, they must preserve as much cash as they can and make sure they are able to bridge their flow of income,” said Nicholas Hackenberg, employment relations specialist at Employsure, Australia’s largest workplace relations advisor.

“SMEs have been crying out for more support, and these new payments will allow them to operate with more confidence over the coming weeks and months. Without continued, ongoing support, the cost of maintaining a business and paying staff significantly add up with each passing day.”

The new assistance package echoes previous calls by Employsure for more financial support to be given to business owners affected by lockdowns and restrictions.

This is reflected in data gathered from Employsure’s advice line for business owners, which has seen calls regarding termination rise by 30 per cent since January. To put this in perspective, 4000 of these termination-related calls were received in June alone, the highest monthly figure since the first national lockdown in April last year.

“Employers are rightfully worried, and as long as these payments are easily accessible and readily available to employers when they need it, it is a step in the right direction to help alleviate some of that stress and guarantee job retention,” continued Mr Hackenberg.

“It is up to business owners to ensure all financial measures and health and safety protocols are in place if they have any chance of coming out of this pandemic. Employers need to be transparent with their employees on what this new financial assistance package means for them, and what it means for the business. We as a nation will succeed, and that success will belong to each and every one of us.”

Further enquiries:

Matthew Bridges

[email protected]

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