Tax relief for business, funds for jobs help for vulnerable
THE NSW Government has released the second stage of its economic package aimed at keeping people in jobs, helping businesses and supporting our most vulnerable in the face of the COVID-19 pandemic.
Key elements of the NSW COVID-19 stage two package include:
• Deferral of payroll tax for business with payrolls over $10 million for six months. Businesses with payrolls of $10 million or less received a three-month waiver on payroll tax in the first package. These businesses will now get an additional three month deferral as well
• A $1 billion fund to sustain business, create new jobs and retrain employees
• Deferral of gaming tax for clubs, pubs and hotels, and lotteries tax for six months, conditional on these funds being used to retain staff
• Deferral of the parking space levy for six months
• Deferral of rents for six months for commercial tenants with less than 20 employees in all Government-owned properties
Helping our most vulnerable
• $34 million boost in extra funding for the homeless
• $30 million to boost the Energy Accounts Payments Assistance scheme
• $10 million to support charities and $6 million additional funding for Lifeline's operations in NSW
Deputy Premier John Barilaro said the NSW Government's package will support those in need.
''These are unprecedented times and we need to ensure businesses keep employees on the books and that we support those who are most vulnerable," Mr Barilaro said.
NSW last week announced a $2.3 billion funding package which included a $700 million to boost health and $1.6 billion for tax cuts and job creation.
NSW Treasurer Dominic Perrottet said the new measures were timely, targeted and temporary and had been "designed for maximum impact and immediate effect".
"The NSW Government's package complements the stimulus measures delivered by the Commonwealth and RBA," Mr Perrottet said.