EXTRA SUPPORT NOW AVAILABLE FOR SMALL BUSINESSES

Small businesses can now access additional funds to reinvest in their operations with the new $3,000 Small Business Recovery Grants and payroll tax changes introduced this week.

NSW Treasurer Dominic Perrottet said the measures were part of the Government’s $13.6 billion-plus COVID-19 stimulus support measures.

“Eligible small businesses can access up to $3,000 in Recovery Grants, while the tax-free threshold for payroll tax will be increased from $900,000 to $1 million, saving businesses up to $5,450 a year.

“This support for small business will help create jobs and keep more businesses in business as we enter the recovery phase of this pandemic.”

Minister for Finance and Small Business Damien Tudehope said small businesses are the engine room of NSW and they are playing a huge role in kick-starting our economy.

“These $3,000 grants can be used to relaunch business operations, from covering marketing and advertising expenses to fit-out changes and training staff on how to work safely under the current health conditions – assisting with expenses that will help get them back to business.”

The Small Business Recovery Grant can only be used for expenses from 1 July and where no other Government support is available. More information is available here and information on payroll tax changes can be found here.

Small business owners can get advice from more than 110 Business Connect advisors to help them innovate, pivot or take advantage of opportunities in the market. 

More information is available here.