Cashflow Boost Returns for NSW

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Cashflow Boost Returns for NSW
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• NSW businesses will now receive up to 10,000 per
  week under a new support measure modelled off
  2020s cash flow boost payment, Prime Minister
  Scott Morrison has announced.
• The new measure will be available from next week-
  the fourth week of Greater Sydneys lockdown- and
  will see eligible businesses receive a minimum of
  1,500 and a maximum of 10,000 per week.
• It will be available to non-employing and
  employing entities in NSW, including not for
  profits, with an annual turnover between 75,000
  and 50 million.

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• Entities will be eligible if their turnover is 30
  per cent lower than an equivalent two-week period
  in 2019.
• The payment rate will be based on 40 per cent of
  their NSW payroll payments. Non-employing
  businesses, such as sole traders will see the
  payment capped at 1,000 each week.
• To receive the payment, entities will be required
  to maintain their full time, part time and long
  term casual staffing level as of 13 July.

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• Prime Minister Scott Morrison said the new
  payments were modelled off the cash flow boost
  measure that was introduced at the start of the
  COVID-19 pandemic last year but will be jointly
  funded between the Commonwealth and New South
  Wales.
• What weve learnt during the pandemic is you do
  what works. When you need to do it again, you do
  what works, said Mr Morrison.
• The support thats been provided through this
  cash flow boost is not only commensurate with
  what was provided last time, but in most cases
  its actually greater because it needs to be more
  concentrated.

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• Its kicking in in week four and it will go for
  as long as the lockdown requires.
• NSW treasurer Dominic Perrottet also revealed
  that micro businesses earning more than 30,000
  but less than 75,000 would also receive a
  backdated 1,500 per fortnight payment from week
  one of the lockdown if they have seen a 30 per
  cent reduction in turnover.
• Payroll tax liabilities will also be deferred for
  two months.

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• Disaster payments boosted
• Mr Morrison also announced an increase to the
  COVID disaster payment, which has been bumped
  from 500 to 600 for those who work more than 20
  hours each week, and from 325 to 375 for those
  who have lost between eight and 20 hours a
  week.
• The payments eligibility criteria has been
  broadened to include all residents of NSW, too,
  and is no longer limited to those under lockdown
  in regions declared hotspots by the Commonwealth.
  The broadened scope of the payment, however, is
  limited to residents of NSW, as its cost will be
  offset by the state government.

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• The NSW outbreak has proved to be more severe,
  more dangerous, and its in the national interest
  that we now put in place an upgraded set of
  arrangements for cooperation with the states and
  territories, Mr Morrison said. Within that, we
  will first be put in place here with NSW when
  lockdowns enter into more protracted situations.
• Mr Perrottet has also announced additional state
  support to both residential and commercial
  tenants as part of the announcement as well. The
  treasurer announced a land tax rebate to
  commercial landlords in a bid to stave off
  commercial evictions.

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• We want to encourage retailers right across NSW
  to work with landlords to make sure that we all
  get through this difficult time together, he
  said.
• The state will also provide residential tenancy
  protections by ruling out any evictions for the
  next 60 days for workers who have seen an income
  reduction of at least 25 per cent, and are doing
  it tough. The same land tax rebates will be made
  to residential landlords, too.
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