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The state will expand the JobSaver turnover threshold and increase maximum payments as Greater Sydney braces for another four weeks of lockdown.
New South Wales Treasurer Dominic Perrottet has announced an expansion of the JobSaver payment, which will see the turnover eligibility ceiling increase from $50 million to $250 million, along with an increase to maximum payments of $100,000 available under the scheme.
“That will ensure that around 460,000 businesses with a turnover reduction of 30 per cent will be eligible for those support payments,” Mr Perrottet said. “That is up from 230,000 businesses. That has a coverage of around 3.3 million workers right across the state.”
The expansion and extension will also see maximum weekly payments increased from $10,000 to $100,000 per week under the scheme.
“That will ensure that businesses, the cash flow and financial support [are] there so they can get through this. We have made it clear that businesses can’t reduce headcount,” Mr Perrottet said. “We want to make sure that workers remain connected to their businesses as we move through this lockdown period.”
Applications for JobSaver opened on Monday and will see businesses and not-for-profits receive 40 per cent of their weekly payroll, at a minimum of $1,500, as long as they maintain their full-time, part-time and long-term casual staffing level as of 13 July.
Mr Perrottet said that the increased maximum payments will be back-dated to applications made as far back as last week.
The added support supplied by the state will be in part paid for by the federal government.
“I want to thank the federal government, the Prime Minister and the federal Treasurer for the constructive discussions we have had and the increase in financial support,” Mr Perrottet said.
“Anecdotally, if you look at the other business packages we have here in New South Wales, almost 29 per cent of businesses have had a downturn of around 30 per cent — they can apply for financial assistance. That is, micro-business, medium business, large business.”
The news came prior to Prime Minister Scott Morrison’s announcement of an expansion to the Commonwealth’s individual COVID-19 disaster payments.
He said: “This new level of payment recognises the significant impact that the new COVID-19 Delta strain is having on communities, businesses and workers.”
From next week, the COVID-19 Disaster Payment will be boosted from $600 to $700 each week if a person has lost 20 hours or more of work a week, or $375 to $450 each week if a person has lost between eight and 20 hours of work.
Individuals receiving JobSeeker will also receive an extra $200 per week, if they have lost more than eight hours of work per week.
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