Business rescue package to bring welcome short-term relief to Liverpool

Liverpool City Mayor, Wendy Waller has welcomed the NSW Government’s economic support package aimed at helping businesses affected by the current COVID-19 lockdown but urges more longer-term measures are needed.

“I thank the NSW Government for stepping up and for providing the necessary extra support for the thousands of workers and businesses in the Liverpool Local Government Area that will be heavily impacted with loss of trade and revenue.

“However, with today’s announcement of a lockdown extension until 30 July, the economic impact will be felt for many months to come. Given this, we’re calling on the NSW Government to provide longer-term economic support for businesses.

“Many businesses will be losing income but still have substantial costs even when closed. I hope these measures will help ease that financial challenge and keep our local people in jobs,” said Mayor Waller.

Key features of the NSW Government’s economic support package include:

The business grants program announced two weeks ago has been expanded, with grants between $7500 and $15,000 soon to be available to eligible businesses with annual wages up to $10 million.A new grant program has been announced for smaller micro businesses with turnover between $30,000 and $75,000.A new business and employee support program will be delivered together with the Commonwealth to provide cashflow support to businesses to help them retain staff.Businesses will benefit from payroll tax waivers of 25 per cent for businesses with Australian wages of between $1.2 million and $10 million that have experienced a 30 per cent decline in turnover.Commercial, retail and residential landlords liable for land tax will be eligible for a land tax concession where they reduce the rent of their tenant.

Mayor Waller said Council would look to implement additional measures to support Liverpool’s business community through this extended lockdown period.

“Throughout last year’s lockdown, our Business Resilience Grants program helped many businesses who suffered a significant decline in cashflow stay afloat.

“We received some great feedback from local businesses who were able to use the funding to change their business models, for advertising campaigns, business rebranding and setting up an online presence.”

Over 50 businesses across Liverpool received Council’s Grant totalling $172,000 in financial support.

For further information, go to: https://www.service.nsw.gov.au/campaign/covid-19-help-businesses.