'JobSaver' expanded to support more NSW businesses during lockdown

author-avatar By on July 28, 2021
'JobSaver' expanded to support more NSW businesses during lockdown

As the NSW lockdown continues, the 'JobSaver' program will expand to provide financial support for up to 460,000 businesses.

With the NSW lockdown extended, the NSW Government has announced it will expand the newly-crowned 'JobSaver' program to support businesses and individuals during lockdown.

NSW Treasurer Dominic Perrottet stated that the maximum weekly payments will be increased, with businesses now able to receive between $1,500 to $100,000 per week, based on their weekly NSW payroll.

JobSaver payments are currently available to businesses with an annual turnover between $75,000 to $250 million that have experienced a decline of at least 30%.

According to the NSW Treasurer, around 460,000 businesses will now be eligible for financial support, up from 230,000. This covers around 3.3 million workers.

"That will ensure that businesses, the cash flow and financial support is there so they can get through this. We have made it clear that businesses can't reduce headcount," Mr Perrottet said.

NSW Premier Gladys Berejiklian expressed that a new round of JobKeeper was off the table, but that "we fought our guts out for these extra payments".

She said that payments will automatically go into people's accounts every week, and that if employees are out of work or have reduced hours due to lockdowns, they will receive financial support.

"People should not feel stressed about their financial position," Ms Berejiklian said. 

"We want people to rely on these payments for the next four weeks. Whether you are a business, an individual, or someone who gets a part payment already, please know you will be supported during this time."

According to the NSW Treasurer, Prime Minister Scott Morrison will also announce a 'tweak' to the disaster payments for individuals later today.


Image by Steven Wei on Unsplash

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Rachel is a Finance Journalist, and joined Savings in 2021. Coming from a background in the FinTech space, her interests include the innovation of lending technology, property, investing, and more. With a passion for educating and informing people about their finances, she hopes to increase the financial literacy of everyday Australians.

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