NSW treasurer Dominic Perrottet has announced a support package to help struggling small businesses remain afloat during the state’s lockdown.
According to Perrottet, the state government will provide payments to businesses with up to 20 full-time staff, or which have payrolls up to $1.2 million a year, with turnover of $75,000 a year.
A payment of $10,000 will be available should an eligible business’ turnover fall 75 per cent, while the payment falls to $7,000 for a reduction of 50 per cent and $5,000 for a reduction of 30 per cent.
Australian Retailers Association boss Paul Zahra welcomed the package, but said more would need to be done if the lockdown is extended beyond July 9th.
“Businesses – including many small businesses – are already bearing the cost of lockdown this year, with no safety net in place,” said Zahra.
“It’s important we get cash into the hands of businesses as soon as possible and we need to ensure that support is targeted to those who need it most. Small businesses in the CBD are a significant ongoing concern.”
The Government has also committed to payroll tax deferrals and an extension of the Dine & Discover program to August 31.