Government COVID Support Packages – The Breakdown

Jul 15, 2021

Accessing the right COVID support for your business

If your business has been adversely impacted by the recent lockdown in NSW, support is coming.

The NSW and Federal Governments have announced a series of new measures to support business during extended lockdowns of four weeks or more.

New Micro Business Grant

  • Turnover must be between $30,000 and $75,000
  • Must demonstrate 30% reduction in revenue over a 2 week period
  • Your business income must be the primary source of your income
  • Statement from Accountant is needed to confirm loss in revenue
  • Business primarily operates in NSW (all parts of NSW not just Sydney)
  • You will receive a grant of up to $1,500 per fortnight
  • This will be backdated from week one of lockdown

How to apply – register your interest CLICK HERE

New cash boost available for NSW business

  • Turnover must be between $75,000 and $50 million
  • Business must prove a 30% drop in revenue over a 2 week period
  • Available from the fourth week of lockdown (until lockdown lasts)
  • Available to non-employing businesses and employing business
  • Non employing businesses, like sole traders, will be capped at $1,000 per week
  • Employing Business Cash Boost will be between $1,500 to $10,000 per week
  • Payments based on 40% of NSW payroll payments
  • Must maintain your full-time, part-time and long-term casual employees (level measured at 13th July 2021)
  • Applications open 26th July 2021

How to apply – register your interest CLICK HERE

Increase in NSW business grant

If your turnover has dropped by:

  • 70% or more you are entitled to $15,000 lump sum
  • 50%-69% you are entitled to $10,500 lump sum
  • 30%-49% you are entitled to $7,500 lump sum
  • Available to small business, sole traders, and not-for-profit organisations
  • Grants must be used for business expenses such as rent, utilities, and wages
  • Grants available from 19th July 2021

How to apply – register your interest CLICK HERE

How is drop in revenue measured?

  • Is measured over a minimum 2-week period
  • Measurement can start from 26th June 2021 till 17th July 2021 (new dates)
  • Is compared to an equivalent period in 2019 (2 years ago)
  • The revenue comparison will be on the same basis as your GST registration
    i.e if your erport and pay GST on a cash basis, this is your measurement basis for the grant

There are two different grant streams available for NSW:

  1. Small Business
  2. Tourism or Hospitality

Small Business Eligibility Grant

  • Turnover must be more than $75,000 and less than $50 million
  • Wages must be below payroll tax threshold of $1.2 mill (this has now changed to annual Australian wages of $10 million or less)
  • Fewer than 20 full-time equivalent employees (this has now been removed)
  • Statement from Accountant is needed to confirm loss in revenue
  • Business primarily operates in NSW (all parts of NSW not just Sydney)
  • Have business costs for which there is no other government support available (new)
  • Maintain your employee headcount as at 13 July 2021 (new)

Tourism & Hospitality Sector Grant

  • Turnover must be more than $75,000
  • Wages must be below $10 million
  • Statement from Accountant is needed to confirm loss in revenue
  • Business primarily operates in NSW (all parts of NSW not just Sydney)

Payroll Tax

  • The due date for lodgement and payment of the 2021 annual payroll tax reconciliation is extended until 7th October 2021
  • Option to defer their July & August payroll tax payments till 7th October 2021 (due date for September payroll tax)
  • This is available to all businesses in NSW
  • Payroll tax liabilities for this quarter will reduced by 25% if you can prove a 30% decline in revenue
  • This is available for all business in NSW with wages between $1.2 and $10 million

Disaster Payments

  • Those who lost more than 20 hours per week, will receive $600 per week
  • Those who lost between 8 to 20 hours per week will receive $375 per week
  • Available to all NSW workers (not just Sydney)
  • Apply through MyGov
  • No need to claim on a weekly basis

CLICK HERE for more information 

Rent Relief

  • Retailers should work with their landlords if they need a rent reduction or deferral
  • You should evidence of the reduction in income (a 30% reduction in income is a good guide)
  • Land tax rebates will be available for landlords who give rent relief
  • New residential tenancy protection rules, which rule out any evictions for next 60 days
  • Workers need to show a 25% reduction in income
  • Landlords could be given $1500 from state government for assistance

Dine and Discover – Extended!

  • Dine & discover vouchers are now valid till the end of August 2021.
  • Vouchers can also be used for takeaway, so long as customers used QR codes to check into the business when picking up food
  • Not available for deliveries

What’s Next?

  • Grants will be paid from 19th July 2021.
  • Cash Boost will be activated next week, but register your interest today
  • Revenue assessment should be compared with Revenue from July 2019 (2 years ago).
  • Ask your accountant to help you assess your criteria and prepare the “statement” to confirm that eligibility
  • Apply for NSW Business grants through the Service NSW website, using your own login and password details.
  • If significant loss in revenue, or financial hardship, approach your landlord and financial institutions for discussions

CLICK HERE for a PDF summary of the support available

“It’s not the strongest of the species that survives, nor the most intelligent; but the one most adaptable to change.”  – Charles Darwin


  • Suzanne Walker

    Suzanne Walker is the founder of one of Australia’s leading public accounting firms, Clear Path Accounting, and has built her results-based reputation as a transformational business advisor over the last 25 years. She holds the philosophy that accounting is more than just tax returns and compliance and believes that accountants can have a profound impact on the lives of their clients.

    Suzanne began her career after completing her degree in Commerce from the University of South Australia. She started out working for a large accounting firm in Sydney before deciding to make the bold move of starting her own practice. Since then, she has helped countless business owners achieve their financial goals through her sound advice and guidance.

    Establishing a career as a young mum of three, in a male-dominated industry has also gifted her with a passion for helping other women in business. Motivating her to co-create courses and business mastermind groups specifically to empower women with the skills they need to find their own version of success.

    In addition to her work at Clear Path Accounting, Suzanne is also the Vice President of the Penrith Valley Chamber. She regularly attends and often hosts meetings, events and seminars, in an effort to support others in her local business community.

    Suzanne is passionate about helping her clients achieve financial success, taking a personalised approach to every engagement. Her dedication to her clients and her commitment to excellence have made her a trusted advisor to many businesses in Australia.