Business support and financial hardship
Many individuals, families and small businesses continue to be disrupted with closures, a decrease in demand for services and a downturn in visitor numbers deeply affecting our community. Stimulus packages have been announced by the Federal and NSW Governments as part of the economic response to COVID-19.
Council understands the stress our community is under and endeavours to provide accurate information as it becomes available. The information below is correct at 18 March and it is expected to change. If you or your staff are distressed and need wellbeing support please visit the Beyond Blue website for information.
The Australian Government Treasury's economic response includes, but is not limited to:
- Cash flow support up to $25,000 for businesses with a turnover of less than $50 million that employ staff
- Financial assistance of $750 for people on low incomes
- Wage subsidies for apprentices
- Delivering support for business investment
- Cash flow assistance for employers
- Stimulus payments to households to support growth
- Assistance for severely affected regions
- Increased instant asset write-off
The NSW Government's economic response includes, but is not limited to:
- Waiver of a range of fees and charges for small businesses including bars, cafes, restaurants and tradespeople
- Extra funding for NSW Health. This will assist in doubling ICU capacity, preparing for additional COVID-19 testing and treatment
- Waiver of payroll tax for businesses with payrolls of up to $10 million for three months (the rest of 2019-20)
- Funds to employ additional cleaners of public infrastructure such as transport assets, schools and other public buildings
The National Debt Hotline (NDH) is expanding its capacity to help more people because of the COVID-19 crisis. The NDH, supported by Financial Counselling Australia, provides free and confidential advice to people who are experiencing financial stress and hardship. It’s a community-based service and is the best way for people to get help quickly.
If you’re feeling overwhelmed and not sure what to do about debt, contact the NDH for free and confidential financial counselling to get back on track. Call 1800 007 007 or visit www.ndh.org.au for more information.