JobSaver extended with an end-date

By Cutcher & Neale Accounting and Financial Services - October 01, 2021

On 30 September 2021, the NSW Government has announced that the JobSaver program will be extended to ‘help NSW businesses re-open their doors and get people back into jobs as the state starts to ease restrictions and enjoy greater freedoms’.

Currently, the JobSaver program is co-funded by the Commonwealth and the NSW Government. Once NSW reaches the 80% double COVID-19 vaccination target, the joint Commonwealth and NSW Government JobSaver payments will cease, and the Commonwealth will end its contributions.

From that point, the NSW Government will continue to fund its 50% contribution to JobSaver payments. However, as the NSW Government will be wholly funding the extension of the JobSaver program, the amount of the payments will taper from the current rate of 40% of NSW Weekly Payroll to 30% then to 15%.

The new payment rates are set out in the table below:

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The extension of JobSaver will work alongside the NSW Government’s Road-map and the easing of restrictions. JobSaver payments will end on 30 November 2021, coinciding with the further relaxation of restrictions.

After NSW reaches the 80% double vaccination target, the Micro-business grant will continue to be available, but at the reduced rate of $750 per fortnight instead of the current rate of $1,500 per fortnight, before ceasing on 30 November 2021.

If you need further information or advice specific to your circumstances, please get in touch with the team at Cutcher & Neale.

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