Yesterday the Commonwealth and NSW Government announced the COVID-19 Disaster Payment.

The financial support comes into effect from 18 July 2021, four weeks after lockdown began, and is available for businesses and workers in NSW and other states affected by the extended lockdown.

Key points from the PM’s media release here:

Individuals

• From week four of a lockdown because of a Commonwealth declared hotspot, the COVID-19 Disaster Payment will increase from $500 to $600 each week if a person has lost 20 hours or more of work a week or $325 to $375 each week if a person has lost between 8 and 20 hours of work.
• The COVID-19 Disaster Payment will become recurring for approved recipients for as long as the Commonwealth declared hotspot and lockdown restrictions remain in place.
• Amend the COVID-19 Disaster Payment so that a person would be eligible for the payment, including where they are still working, provided they have lost more than 8 hours or a full day of work.

Small and medium businesses

• Eligible entities will receive 40 per cent of their NSW payroll payments, at a minimum of $1500 and a maximum of $10,000 per week.
• Entities will be eligible if their turnover is 30 per cent lower than an equivalent two week period in 2019.
• The new small to medium business support payment will be available to non-employing and employing entities in NSW, including not for profits, with an annual turnover between $75,000 and $50 million.
• To receive the payment, entities will be required to maintain their full time, part time and long term casual staffing level as of 13 July 2021.
• For non-employing businesses, such as sole traders, the payment will be set at $1,000 per week.

Businesses can register their interest from 14 July 2021 via Service NSW