Support is available for both businesses and individuals; and there’s recently been some changes announced.
With lockdowns in NSW looking likely to be in place for the foreseeable future, more and more people are being affected financially. There are a number of ways both businesses and individuals can get support, and we’ve rounded them up here.
Many businesses that have lost revenue because of Covid-19 will already be receiving Jobsaver payments. The scheme is being expanded, so now any business that has an annual turnover ranging from $750,000 to $250 million (an increase from $50 million) can receive support. Businesses that have had their revenue drop by at least 30 per cent in the current lockdown, compared to the same period in 2019, are eligible for Jobsaver.
The amount your business is eligible for depends on its size, but payments range from $1500 per week to $100,000 per week (an increase from $10,000). Sole traders who can prove their turnover has decreased by 30 per cent since 2019 are also eligible to receive $1000 weekly payments.
You can also receive support from your bank on things such as refunds on merchant terminal fees for up to three months, as well as waiving fees on cash deposits and farm management deposit accounts for up to three months. Businesses and individuals can also ask for a repayment deferral on their home loans, assessed on a month-by-month basis between bank and customer.
People in Greater Sydney and its surrounds are eligible to receive payments if they’ve lost hours at work. People who have lost more than 20 hours per week are eligible for $750 weekly payments (an increase from $600). Those who have lost less than 20 hours are eligible for $375 per week (an increase from $300).
Welfare recipients on payments such as youth allowance or a carers payment are entitled to a $200 Covid-19 disaster payment if they have lost more than 8 hours of work per week.
Jobsaver is slated to end in-line with Greater Sydney’s lockdown on August 28, but an extension to both of these deadlines hasn’t been ruled out.
A detailed list of payments and application processes can be found on the NSW government’s website.
Photography: Jiwon Kim
