New COVID lockdown support package for business unveiled

"Micro businesses" with a turnover of between $30,000 and $75,000 which experience a decline in turnover of 30 per cent will be eligible for a $1500 payment per fortnight of restrictions.

The business grants program, announced two weeks ago, has also been expanded, with grants between $7,500 and $15,000 available to eligible businesses with annual wages up to $10 million.

The state government announced the package which will cost up to $5.1 billion, including more than $1 billion from the federal government as part of a business and employee support program.

Thousands of employees will also be protected with NSW committing half of a new $2.1 billion business and employee support program to be delivered together with the Commonwealth.

Businesses will benefit from payroll tax waivers of 25 per cent for businesses with Australian wages of between $1.2 million and $10 million that have experienced a 30 per cent decline in turnover.

The NSW Government will also cover the disaster recovery payments for areas outside the Commonwealth declared hotspot from week four of the NSW lockdown providing valuable support across the state.

Residential tenants will have greater protection with a targeted eviction moratorium. Residential landlords who decrease rent for impacted tenants can apply for a grant of up to $1,500 or land tax reductions depending on their circumstances.

Commercial and retail landlords will need to attempt mediation before recovering a security bond, or locking out or evicting a tenant impacted by the Public Health Order.

Commercial, retail and residential landlords liable for land tax will be eligible for a land tax concession where they reduce the rent of their tenant.

Premier Gladys Berejiklian said the comprehensive package had three key aims - protecting business, saving and keeping jobs through the lockdown and ensuring people had support during an uncertain and difficult time.

"We have always said we will do whatever it takes to protect the people of NSW and keep our economy strong, and that is exactly what we are doing," Ms Berejiklian said.

"While our health and medical staff are fighting COVID-19 on the frontline, this comprehensive support package is aimed at saving jobs and protecting businesses until the lockdown is over."

Treasurer Dominic Perrottet said the Government was offering support in as many areas as possible, with payroll tax cuts for eligible businesses, up to $75 million in support for the performing arts sector and $26 million for the accommodation industry.

"We saw last year during the first lockdown the importance of protecting jobs and ensuring people remained connected with their workplace," Mr Perrottet said.

"The value of our business grants package is now up to $2.1 billion with a 50 per cent increase, there is also a new grant for those smaller businesses turning over between $30,000 and $75,000, and payroll tax waivers for eligible businesses with a payroll up to $10 million that suffer a 30 per cent reduction in turnover.

"This is a mighty package aimed at ensuring the NSW economy bends in the storm but doesn't snap. We will come out the other side with a few scrapes but more determined than ever."

Key components of the 2021 COVID-19 package include: