Australia
6 October 2021 | Minutes to read: < 1

Phasing out of JobSaver and Micro-business grant

By Blake Scheffers and Tim Lyford

The NSW Government has announced phasing out of its business support payments as vaccination rates in NSW reach the 70% and 80% targets and government restrictions are eased. These changes are set out below.

 70% Double Vaccination Rate (16 years and older)

  • JobSaver
    • Payments will reduce from 40% to 30% of weekly payroll
    • Minimum weekly payment will be $1,125
    • Maximum weekly payment will be $75,000, and
    • Weekly non-employing business payment amount will reduce to $750.
  • Micro-business Grant
    • No changes

80% Double Vaccination Rate (16 years and older)

  • JobSaver
    • Payments will reduce from 30% to 15% of weekly payroll
    • Minimum weekly payment will be $562.50
    • Maximum weekly payment will be $37,500, and
    • Weekly non-employing business payment amount will reduce to $375.
  • Micro-business Grant
    • Fortnightly amount will half to $750

On 30 November

  • Both JobSaver and the Micro-business grant programs end.

These payments will continue to be paid on a fortnightly cycle until 30 November. Reconfirming your eligibility, including that businesses continue to experience a 30% decline in turnover, will be required until the end of the program.

It’s expected that the NSW Government will announce its Economic Recovery Plan in October with the aim of boosting business confidence, jobs growth and injecting targeted stimulus as restrictions ease across NSW.

Contact your William Buck advisor for more information on the COVID-19 Support packages.

Phasing out of JobSaver and Micro-business grant

Blake Scheffers

Blake is a Tax Consultant in our Tax division. Blake builds strong relationships to provide the best solution for his clients. Blake provides tax advisory services to SMEs/family owned businesses and larger privately owned companies including on capital gains tax, business structuring and restructuring, Division 7A and employee share schemes. He has been a key adviser in assisting businesses access vital COVID-19 government support, staying at the forefront of latest developments to help clients manage through the pandemic. Blake’s previous experience in our business advisory division provides him with a valuable understanding of businesses to ensure practical solutions can be found.

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Phasing out of JobSaver and Micro-business grant

Tim Lyford

Tim is a Director in William Buck’s Tax division and as a wealth of knowledge across a wide range of industries, including Private Wealth, Property, Financial Services and Technology. As a Chartered Accountant with over 25 years’ experience, Tim is known by many as a trusted tax advisor with the ability to engage a whole suite of people within the business. He comes from a background of leadership roles, board level experience within Business Tax Services and has a natural ability for and a deep understanding of team management and strategic development.

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