NSW government expands support for small businesses

NSW Premier Dominic Perrottet has announced an expansion to the NSW government’s rebate program for state and local government fees.

Businesses will be able to claim $2,000 under the Small Business Fees and Charges Rebate from November, up from $1,500 when the rebate was first introduced in March.

“It hasn’t been an easy ride for businesses across the state, and now we are reopening, this should give them some assurance that we will be there for them every step of the way,” said Damien Tudehope, Minister for Finance and Small Business.

Road tolls can now also be claimed under the rebate that is available to small businesses including sole traders with total wages below the $1.2 million payroll tax threshold.

“The rebate can be used to offset NSW and local government fees and charges and adding tolls to the list of claimable charges is going to make a massive difference to many small business owners who use vehicles for work,” Mr Tudehope said.

The NSW government has also announced a new “stock guarantee” to compensate businesses for the loss of perishable stock if they are affected by lockdowns.

Hospitality and retail businesses with an annual turnover between $75,000 and $50 million can apply for a grant of up to $20,000 to compensate for a loss of perishable stock, or claim $10,000 for reduced capacity to sell non-perishable items, if they are forced to close due to a public health order between 1 December 2021 and 31 January 2022.

“These measures will give businesses and workers confidence to purchase stock and invest for the future knowing their doors will remain open as we get our economy firing again,” Mr Perrottet said.

Jon Bragg

Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.