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For Business Clients: Small Business Fees and Charges Rebate

For Business Clients: Small Business Fees and Charges Rebate

Business clients, don’t we all love a series of small wins? If you answered yes, then we have some great news for you.

If you are a sole trader, a small business owner, or a not-for-profit organisation in NSW, you may be eligible for a ‘small business fees and charges rebate’ of $1,500.

This rebate helps businesses recover from the impacts of COVID-19 and encourages growth by reducing the cost of running a business. Eligible businesses or not-for-profits only need to apply for the rebate once but can submit multiple claims until the full value of $1,500 is reached. Online applications are available from Service NSW.

While an extensive list of applicable licence fees and charges is not provided, this rebate is eligible for any state government fees and charges, except those specifically excluded. Remember, this is just for state government charges, not to be confused with the federal government charges.

Excluded fees and charges include fines and penalties, NSW or Commonwealth taxes, rent on government premises, and fees and charges designed to discourage or induce behaviour changes (such as parking space levies or clean-up notices).

For the full list of exclusions, please see the scheme guidelines here.

Included are trade licences, food authority licences, council rates, and business registered motor vehicle registrations.

Read the full update here – Client Alert Sept 2021 – NSW Small Business Fees and Charges Rebate

How can we help?

If you have any questions or would like further assistance regarding this update, please feel free to call us on 02 9415 1511.

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Overview of Commercial Leasing Changes

Overview of Commercial Leasing Changes

On 14 July 2021, the NSW Government enacted the Retail and Other Commercial Leases (COVID-19) Regulation 2021 (the Regulation). Amendments passed on 13 August 2021 provide even greater protections to impacted tenants by reinstating the National Cabinet’s Commercial Leasing Code of Conduct.

The Regulation ensures that the economic impact of COVID-19 is shared by property owners and tenants. The protections in the Regulation, combined with the land tax concessions and the newly established Commercial Landlord Hardship Fund, will help limit the long-term economic damage of COVID-19 and maximise the number of businesses that can resume normal operation when public health orders are lifted.

For More – Commercial leases and COVID-19 FAQs | Small Business Commissioner (nsw.gov.au)

Template letters for tenants and landlords for negotiation purposes:

Template_letter_for_tenants_rent_negotiation_COVID-19_Rental_Relief_2021_August (1)

Template_letter_for_property_owner_rent_negotiation_COVID-19_Rental_Relief_2021_August

Read More
SMSF Residency Rules Relaxed

SMSF Residency Rules Relaxed

SMSFs will see residency requirements relaxed, with changes set to be seen in the central management and control test along with the active member test scrapped. Read More – SMSF Residency Rules Relaxed

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For Business Clients: Growing Your Business Value

For Business Clients: Growing Your Business Value

Over the next decade, as the baby boomer bubble of small and medium-sized business owners rolls through the system, Australia will experience one of the largest transfers of business wealth in its history. Read More – Growing Your Business Value

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For Business & Individuals: Updated Lockdown Support

For Business & Individuals: Updated Lockdown Support

The Australian and NSW Governments recently announced a major economic support package aimed at supporting businesses and individuals through the current COVID-19 lockdown.

Key components of the 2021 COVID-19 package for businesses include:

  • An extension to the previously announced business grants program. This means eligible businesses with Australian wages below $10 million can claim grants between $7,500 and $15,000 to cover the first three weeks of restrictions.
  • A “JobSaver” employee retention scheme providing cashflow support to businesses to help them retain staff. The cash boost will be up to 40% of weekly payroll with a payment of between $1,500 to a maximum of $100,000 per week, provided staffing levels are maintained at the level as of 13 July 2021. Non-employing businesses are eligible for $1,000 per week.
  • A new grants program for micro-businesses with a turnover of between $30,000 and $75,000 which experience a decline in turnover of 30 percent. The businesses will be eligible for a $1,500 payment per fortnight of restrictions.
  • Payroll tax waivers of 25 percent for businesses with Australian wages bills of between $1.2 million and $10 million that have experienced a 30 percent decline in turnover, as well as payroll tax deferrals and interest-free repayment plans.
  • Mandatory rent relief for eligible commercial and retail tenants. See new support for commercial tenants and landlords.
  • Land tax relief equal to the value of rent reductions provided by commercial, retail, and residential landlords, up to 100 percent of their 2021 land tax year liability.
  • An increase in the payment amount for stood down workers to $750 per week for those who lost more than 20 hours, and to $450 for those who lost between 8 and 20 hours, and available to workers outside of the Greater Sydney lockdown areas.
  • Deferral of gaming tax assessments for clubs until 21 December 2021 and hotels until 21 January 2022.
  • A $75 million support package for the performing arts sector to be administered by Create NSW.
  • A $26 million support package for the accommodation sector.

Read the full update below:

Lockdown Support for Business – Aug 2021

Lockdown Support for Individuals – Aug 2021

How can we help?

If you have any questions or would like further assistance regarding this update, please feel free to call your advisor at PrimeAdvisory on 02 9415 1511.

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