When NSW reaches the 80% double vaccination rate, we’ll reach eased restrictions but we’ll also see the Federal Government end its contributions to the JobSaver payment.
Lucky for many struggling employees and businesses, the NSW Government will continue to fund its 50% contribution to JobSaver payments: tapering down JobSaver payments to a reduced rate of 15% of weekly payroll (down from the current 40%).
|Weekly payment range
|Weekly payments to non-employing business
|Current||40%||$1,500 to $100,000||$1,000|
|10 October||30%||$1,125 to $75,000||$750|
|80% double dose||15%||$562.50 to $37,500||$375|
The then NSW Premier, Gladys Berejiklian stated that the extension of JobSaver would work alongside the NSW Government’s Roadmap and the easing of restrictions, giving businesses certainty.
“The continuation of JobSaver over the next two months will give businesses across NSW the financial boost they need to get them through the challenge of re-opening their doors,” Ms Berejiklian said.
While this is all well and good, JobSaver payments will eventually end on 30 November, coinciding with the further relaxation of restrictions.
By that date, the NSW Government is expected to have unilaterally provided over $8 billion in direct support to businesses and individuals, including through the JobSaver program and its contribution to Commonwealth Disaster Payments.
If you would like help with respect to JobSaver or any other current government payments, contact our team of experienced accountants by submitting an online enquiry, calling us on 1300 QUINNS or alternatively, +61 2 9223 9166 to arrange a teleconference or appointment.