The Federal and the NSW Government's refurbished and expanded measures for residents affected by the Greater Sydney Lockdown. These cash flow measures include lifting the rates and increasing the availability of COVID-19 emergency payment. The government will provide $600 to workers who lost more than twenty hours of work and $375 to those who lost between eight to 20 hours of work.
The role of the state government will ensure the bankroll part of the payment relief measure which will be received by all impacted workers across the NSW. It will not be just restricted to Greater Sydney and identified hotspot regions. Affected workers outside the Greater Sydney region will get access to payment on Sunday. Small businesses which have been shattered by the ruinous Covid-19 waves will also be covered in the government schemes.
Sole traders and entrepreneurs who are facing the brunt of public health measures will be given $1,000 a week. Shrunken businesses, with more than a 30% drop in turnover will receive a reimbursement of 40% of their payroll maxing out at $10,000 a week.
Those payments given to sole traders and businessmen will be contingent on impacted businesses not reducing their overall headcount, PM Scott Morrison said.
Dominic Perrottet, NSW Treasurer, assured that new and upcoming businesses of the state will be covered in new schemes and eligible for grants which can be accessed by companies with turnover of up to $10 million. He also added that commercial and retail renters cannot be asked to vacate for the next 60 days. He promised that he will provide land tax rebates for landlords who negotiate rent reductions with their tenants. Residential Tenants will also get some protection as they cannot be evicted if they have experienced an income drop of 25%.
The state is slated to provide $4.1 billion to the new supports, with the federal government covering more than $5 billion. The measures are expected to cost the federal and state government a combined $500 million for each week they’re in action, Morrison said.
The improvements in funding measures also are an indication that the lockdown period will have a further extension after NSW Premier Gladys Berejiklian said that 89 new cases of COVID-19 were detected in the community on Monday.