CM – NSW expands JobSaver as the lockdown is extended

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The state will raise the JobSaver revenue threshold and increase the maximum payments as Greater Sydney prepares for another four weeks of lockdown.

New South Wales Treasurer Dominic Perrottet has an expansion of JobSaver Announced a payment that will increase the revenue eligibility limit from $ 50 million to $ 250 million and increase the maximum payments available under the program of $ 100,000.

« This will ensure that around 460,000 companies with a 30 percent decline in sales are entitled to these support payments, ”said Perrottet. “That’s more than 230,000 companies. That covers roughly 3.3 million workers across the state. ”

The expansion and renewal will also increase the maximum weekly payments under the program from $ 10,000 to $ 100,000 per week.

“That will make sure that the company, the cash flow, and the financial support are there to help them get through this. We have made it clear that companies cannot reduce their number of employees, ”said Perrottet. “We want to make sure employees stay connected to their company during this blackout.”

Applications for JobSaver open on Monday and provide for companies and nonprofits to receive 40 percent of their weekly payroll, with a minimum of $ 1,500 as long as they maintain their full-time, part-time and long-term employment. As of July 13th.

Mr. Perrottet said that the increased maximum payments will be backdated to applications that were already submitted last week.

The additional support from the state is partly borne by the federal government.

 » I would like to thank the federal government, the prime minister and the federal treasurer for the constructive discussions and the increase in financial support, « said Perrottet.

 » If you look at anecdotally the other business packages we have here in New South Wales nearly 29 percent of businesses experienced a decrease of about 30 percent – they can apply for financial assistance. These are micro, medium-sized, large corporations. « 

Both Mr. Perrottet and NSW Prime Minister Gladys Berejiklian said Prime Minister Scott Morrison is expected to announce an increase in the Commonwealth’s individual COVID-19 disaster payments on Wednesday afternoon. </ "I appreciate the consideration we have given to the concerns we have raised, and I think the support package that we are announcing this morning combined with the federal government support package that will be announced this afternoon," said Perrottet.

 » We’re going to make sure that all workers in the state, all companies in this state, get the support they need stronger on the other side, « he said.

 » After all, my message is to the people of New South Wales: Yes it is difficult, the lockdown has been extended but we will make it.

« We made it through and will make sure n that our financial backing as it evolves is getting the people working across the state and keeping companies in business. « 

The not-to-be-missed Accountants Daily Strategy Day will travel around Melbourne and Sydney in August to Equip accounting experts with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technologies, processes, strategies and trends to shape the future of accounting. For more information, visit the website: www.accountantsdaily.com.au/strategy-day

Before joining the team in 2021, John worked at The Sydney Morning Herald. His coverage has been published in a variety of media including The Washington Post, The Age, and The Saturday Paper.

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Before joining the team in 2021, John worked at The Sydney Morning Herald. His coverage has been published in a variety of media including The Washington Post, The Age, and The Saturday Paper.

Email John at This email address is being protected from spambots. You need JavaScript enabled to view it.
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