Further help for jobs, business and the community: Economic Stimulus Package 2

On 27 March, the NSW Government announced further measures to support jobs, businesses and our most vulnerable in the face of the COVID-19 pandemic. 

Key elements of the NSW COVID-19 Stage 2 package include:

Keeping people in jobs and helping businesses stay afloat

  • The creation of a $1 billion Working for NSW fund to sustain business, create new jobs and retrain employees. The fund is already being put into action with 1000 new staff for Service NSW announced this week to be funded by the program. The Working for NSW fund will comprise $750 million in new funding and $250 million announced last week for additional cleaning services.

  • Deferral of payroll tax for business with payrolls over $10 million for six months (up to $4 billion deferred). Businesses with payrolls of $10 million or less received a three-month waiver on payroll tax in the first package. These businesses will now get an additional three-month deferral as well. Check eligibility criteria.

  • Deferral of gaming machine tax for clubs, pubs and hotels for six months, which includes payments due for the most recent quarter and payments due for the coming quarter. These measures will improve liquidity and help these businesses stay afloat.

  • Deferral of duty on lotteries and keno for six months. These deferrals will include payments due from April 2020 to September 2020.

  • Deferral of the parking space levy for six months.

  • Deferral of rents for six months for commercial tenants with less than 20 employees and not-for-profits in all Government properties.

Helping our most vulnerable

  • $34 million boost in funding to prevent homelessness.

  • $30 million to boost the Energy Accounts Payments Assistance scheme. Find out more about the scheme.

For more information, visit nsw.gov.au.
If you’re having difficulty paying your tax or fines, contact RevenueNSW.
Read the media release.

$2.3 billion economic stimulus package for NSW

The NSW Government announced on 17 March 2020  a $2.3 billion health boost and stimulus package in response to COVID-19 that will support jobs, healthcare, small business and the community.

Features of the package include:

  • Hospitals will get $700 million for extra resources, including doubling the ICU capacity, establishing acute respiratory clinics and purchasing vital medical equipment, such as extra ventilators.

  • To support the State’s economy, the Government will provide $1.6 billion in tax cuts and job creation measures.

  • Small businesses, including bars and cafes, will save $80 million through waived fees and charges. The NSW Government will defer payroll tax payments for the rest of 2019-20 for small businesses with payrolls of less than $10 million.

  • Eligible businesses will also have 25 per cent of their annual payroll tax liabilities waived as part of their 2019-20 annual reconciliation. Around 30,000 businesses are expected to benefit from this waiver. The average saving for eligible businesses will be around $15,000 (please see above for the latest information on payroll tax deferrals).

  • The Government will also bring forward the payroll tax threshold to $1 million to 1 July 2020. Around 38,000 businesses will benefit from the threshold increase to $1 million. Revenue NSW will provide further details to businesses on the payroll tax relief announced in the health and economic stimulus package in the coming days.

  • The Government has further committed $250 million to employ extra cleaners of public infrastructure, such as trains and schools.

  • The package also includes $500 million to bring forward capital works and maintenance and more than $250 million for accelerated maintenance and repairs on public assets, such as social housing.

Last updated: 26/04/2021