As vaccination milestones are reached the various financial support payments that have been put in place to support business and people who have lost their job will be phased out.
NSW JobSaver program to end on 30 November
The NSW Government has announced that it will continue to fund the JobSaver program until 30 November 2021 to assist businesses reopen their doors and to get as many people back into their jobs over the period that restrictions are eased.
The JobSaver payments, however, will be reduced as NSW reaches specific vaccination milestones and will cease altogether on 30 November 2021.
The following table summarises the timeline for JobSaver to be phased out:
| Share of Weekly Payroll | Weekly payment range (paid fortnightly) | Weekly payments to non-employing business (paid fortnightly) | |
|---|---|---|---|
| Current entitlement | 40% | $1,500 to $100,000 | $1,000 |
| 10 October (when 70% double dose reached) | 30% | $1,125 to $75,000 | $750 |
| 80% double dose | 15% | $562.50 to $37,500 | $375 |
| 30 November | Nil | Nil | Nil |
COVID-19 disaster payment to end at 80% vaccination milestone
Financial support for people who have lost work due to COVID-19 will soon be wound back, with the federal government looking to discourage states from imposing lockdowns once vaccination rates hit their targets.
The COVID-19 disaster payment provides $750 a week to people who have lost at least 20 hours of work, and $450 a week to those who have lost between eight and 20 hours.
These payments will be wound back as each state and territory hits the 70 per cent and 80 per cent target vaccination rates for their populations aged 16 and over.
When a state or territory reaches 70 per cent fully vaccinated, people will have to reapply each week for the payment, instead of it being automatically renewed.
At 80 per cent, the payment will be phased out entirely within two weeks.
- In the first week after a state or territory reaches 80% double dose vaccination rates, the COVID-19 Disaster Payment will be $450.
- In the second week after a state or territory reaches 80% double dose vaccination rates, the COVID-19 Disaster Payment will be $320.
Contact Calibre Business Advisory if you have any questions in relation to the above. We can assist you in evaluating your position and the available support payments and grants for your business as well as assist with any applications. Alternatively, do not hesitate to contact us on 0292612177.