The NSW Government has announced it will extend business support payments until 30 November once Commonwealth support ends.

The Commonwealth Government yesterday (29 September) confirmed that it will end support payments to businesses when vaccination rates hit 80 percent.

The NSW Government has announced it will begin to taper payments once the 70 percent vaccination target is reached, continuing until the end of November. 01 December is the date that NSW is expected to reach the 90 percent double vaccination rate.

NSW is expected to reach the 80 percent double vaccination rate by 18 October, at which point the Commonwealth support for JobSaver will end. The NSW Government has announced it will continue to fund contribution to the JobSaver payments, which will reduce from 30 percent to 15 percent of weekly payroll with the ending of Commonwealth support.

NSW is the only state that has announced a continuation of support beyond the point at which the Commonwealth is prepared to fund payments. JobSaver payments will end on 30 November, coinciding with the further relaxation of restrictions the following day.

NSW Premier Gladys Berejiklian said the extension of JobSaver would work alongside the NSW Government’s Roadmap and the easing of restrictions, giving businesses certainty.

Gladys Berejiklian

Gladys Berejiklian

“The continuation of JobSaver over the next two months will give businesses across NSW the financial boost they need to get them through the challenge of re-opening their doors. The light at the end of the tunnel is so close, and this support will help see businesses and workers out to the other side and prepare them for re-launch,” said Premier Berejiklian.

By the end of the JobSaver program, the NSW Government is expected to have provided more than $8b in support to businesses and individuals.

NSW Treasurer Dominic Perrottet said pivoting JobSaver from support to recovery would put businesses on the front-foot as restrictions are eased and the economy is restarted.

Dominic Perrottet

Dominic Perrottet

“JobSaver has helped businesses weather the storm of the latest outbreak and now is the right time to plan for the future so we can get our economy firing again. I know business across the state are keen to open their doors, and are busy planning now that our roadmap is out. There’s renewed optimism in NSW.

“We are sticking by businesses and giving them the support they need to get back on the road to prosperity with the state only a few weeks away from re-opening,” said Treasurer Perrottet.

Commonwealth and NSW Government business support through JobSaver and hardship grants has provided $7b to businesses over the past three months, with the intention of keeping employees and employers connected, allowing the economy to recover more quickly when restrictions ease. Over the next two months, this will extend to almost $12b.

The Micro-Business Grant will also continue to be available once the double vaccination rate reaches 80 percent, paid at a rate of $750 a fortnight, also ending on 30 November 2021.

Image: NSW Health

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