As the name would imply, the JobSaver scheme is designed to help NSW businesses maintain their employee headcount while impacted by the latest COVID-19 restrictions.
Here’s what you need to know!
– Fortnightly payments can be received, backdated to 18 July 2021, based on 40% of weekly payroll.
– Minimum payments will be $1,500 per week and maximum payments have recently been increased to $100,000 per week.
– Non-employing businesses, such as sole traders, could receive $1,000 per week.
– Payments can be used to cover wages and business costs incurred from 18 July 2021.
Eligibility requirements are very similar to those of the latest COVID-19 Business Grant, although have been expanded to include larger businesses:
– ABN and operating in New South Wales at 1 June 2021.
– Aggregated annual turnover between $75,000 and $250 million for the year ended 30 June 2020.
– Must have experienced a decline in turnover of over 30%, over a minimum two-week period compared to 2019, due to the Public Health Order and lockdown of Greater Sydney from 26 th June 2021.
– Employing businesses must maintain their headcount as at 13 July 2021 for the period for which funding is received under this scheme.
– Non-employing businesses must show that the business is the primary income source for the associated person. If more than one non-employing business is owned, payments can only be claimed for one business.
The application process requires the following:
– A MyServiceNSW account.
– Proof of identity.
– ABN or ACN.
– Bank details.
– Evidence of annual turnover and loss of income.
– A tax return or Notice of Assessment.
– Details of your accountant, registered tax agent or registered BAS agent.
– You will also need to declare your headcount as at 13 July 2021 and declare that you will maintain that employee headcount.
– Evidence of weekly payroll.
– A supportive letter from your accountant is also required by any business not on the ‘highly impacted industries list’.
The ‘highly impacted industries list’ is made up of a large number of ANZSIC codes in industries most affected by the restrictions. Note this list is more extensive than the list used for the latest COVID-19 Business Grant. Contact us for more information, or you can access the list at the following link:
https://www.service.nsw.gov.au/jobsaver-payment-guidelines
The Service NSW website has step-by-step details of how to apply. Have a look at the following link, and please contact our office if you need any assistance.
https://www.service.nsw.gov.au/transaction/jobsaver-payment
We are happy to assist with calculating your decline in turnover. Obviously, this will rely on you having up-to-date data, so please attempt to have all income transactions reconciled or documented to 17 July! We can also help with applications, however this will need to happen via your MyServiceNSW account, so please have all details at hand.
For more information, please give our office a call.