Cafe owner and Tumut Regional Chamber of Commerce member Matt Lucas has given the NSW Government’s $5.1 billion Covid-19 economic support package the big thumbs up.
The money will include more than $1 billion from the federal government as part of a business and employee support package.
The business grants program announced two weeks ago has been expanded, with grants between $7,500 and $15,000 available to eligible businesses with annual wages up to $10 million. A new grant program has also been introduced for smaller micro businesses with turnover between $30,000 and $75,000.
Thousands of employees will receive financial support with NSW committing half of a new $2.1 billion business and employee support program to be delivered together with the Commonwealth.
Businesses will benefit from payroll tax waivers of 25 per cent for businesses with Australian wages of between $1.2 million and $10 million that have experienced a 30 per cent decline in turnover.
Mr Lucas, owner of the Coffee Pedaler in Tumut, said it was a positive for businesses in rural and regional areas such as Tumut.
“It is great to see existing support for causal workers extend outside the Sydney region,” he said.
He is happy with the amount of money pledged.
“It’s pretty fair,” he said.
“People will get significant assistance, up to $600 per week, and there is also assistance to businesses for up to 40 per cent of their payroll.
“It will help significantly those businesses affected by the Sydney lockdown and the Victorian border closure.”
He says it will certainly help the Coffee Pedaler.
“It will help me significantly,” he said.
“We’ve experienced a dramatic decrease in trade since the Melbourne lockdown in late May; since then there has been a real drop-off, and it is the whole hospitality industry, not just us.”
Walker BDS Tumut accountant Steve Walker believes the Government is obliged to help smaller businesses this way.
“The government enforces the lockdown so it should support businesses affected by it,” he said.
“Many businesses can’t survive without this type of support, considering what has happened in the past. It is getting to the point where this could be the last straw for many small businesses. The longer this goes on the more support will be given, and it will be extremely welcome.”