The joint NSW Government and Commonwealth JobSaver program will be significantly boosted to give greater support to businesses and individuals impacted by the extended lockdown.
JobSaver payments will now be available to businesses with an annual turnover of between $75,000 and $250 million, up from $50 million, which have experienced a revenue decline of 30 per cent or more.
The maximum weekly payment has also been substantially increased, with employing businesses that maintain their employee headcount now able receive between $1500 and $100,000 per week, up from $10,000, with payments based on 40 per cent of their weekly NSW payroll.
NSW Premier Gladys Berejiklian said the additional support would help deliver businesses and individuals the financial assistance needed during the necessary extension of the lockdown.
"We know these restrictions are tough but necessary to get the current situation under control and that is why we are coming to the table to help businesses and individuals with more financial support," Ms Berejiklian said.
"We don't want people to have to worry about how they are going to keep the lights on or reopen their businesses when restrictions ease, which is why we are investing billions to give people that piece of mind."
NSW Treasurer Dominic Perrottet said this latest round of assistance continued to build on the NSW Government's COVID-19 support measures, with billions now committed, including the $4.1 billion announced earlier this month.
"We know that keeping workers in jobs is critical, which is why we've fought hard to secure additional support to help businesses hold onto their staff," Mr Perrottet said.
"We appreciate how difficult it is for businesses right now, and we are also prioritising getting money out the door and into pockets as fast as possible."
Applications for JobSaver opened on Monday with more than 14,000 applications already received and almost $28 million approved for payment so far. Payments are expected to start hitting bank accounts from 31 July.
Businesses can expect to receive funds in their accounts within five to ten business days from their approval date, and the arrangements announced today will be backdated, so businesses that have already received a first payment on previous settings will be topped up when their next payment is made.
JobSaver payments are available from week four of the lockdown. Non-employing business remain eligible for a maximum of $1000 per week.
Businesses have also received much needed support from the 2021 COVID-19 Business Grant to cover the first three weeks of lockdown, with more than $118 million paid to businesses so far from more than 56,000 applications received.
For more information visit 2021 COVID-19 Support Package.
Support for individuals impacted by the current COVID-19 restrictions and stay-at-home orders is also available through Services Australia.
