Up to $ 20,000 New Equity Rebate for New South Wales SMEs

The New South Wales (NSW) government has announced new financial support measures that will help SMEs build confidence in investing in a complete resumption from the blockade.

Eligible companies with annual revenues of $ 75,000 to $ 50 million will receive up to $ 20,000 for fresh products and up to $ 10,000 for non-fresh products if future blockades can affect the ability to sell their products. Can be billed.

In addition, SMEs that are not subject to payroll tax will be able to charge more tolls for road users, which has been raised from $ 1,500 to $ 2,000.

“All of today’s announcements are about self-confidence,” said NSW Prime Minister Dominic Perrott. Said.. “When we experienced a pandemic last year, corporate trust was important and important to drive economic growth and ensure that companies continue to hire and attract people.”

The grant gives SMEs the confidence to make “major acquisitions” in summer and Christmas transactions without worrying about the potential impact of the blockade, Perotet said.

“I know there was a concern about the blockade. I made it very clear β€” it’s a last resort, not a first resort,” Perotet said.

Treasury Secretary Matt Keane said the government will resume with the support of small businesses, invest in the future and prepare for the summer season.

“The second day of resumption, and we’re telling small businesses that we have your back,” Keane said.

Keane expects summer to be a bumper season for businesses as New South Wales residents are trying to mitigate their accumulated demand after spending more than 100 days blocking them.

“New South Wales is the engine room of the national economy, and SMEs are the engine room of the New South Wales economy. Therefore, the sooner SMEs recover, the faster the economy will skyrocket.” Said Keane.

Increased toll refunds will make a “big difference” to many small business owners who use their cars for work, said Damian Tudehope, Minister of Finance and Small Business.

β€œIt wasn’t an easy vehicle for companies across the state. Now, resuming this should give us confidence that we’re there for them at every stage,” says Tudehope.

Meanwhile, the daily number of COVID-19 cases continues to decline sharply. On October 11, the first day of resumption, 360 cases were recorded, and 74% of the population was completely vaccinated.

Rebecca Chu