Login
iscover
Businesses across NSW will continue to have access to the JobSaver program at a reduced rate until the end of November even after the Commonwealth withdraws its support as early as next month.
Newsletter
JobSaver payments to end on 30 November: Gladys Berejiklian
30 September 2021
•
9 minute read
Premier Gladys Berejiklian on Thursday announced that the NSW government will “go it alone” to fund an extension of the JobSaver program, at a rate of 15 per cent of weekly payroll until 30 November, after the Commonwealth withdraws support once vaccine thresholds are reached.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Support payments are currently funded 50/50 by the Commonwealth and each state and territory government but Treasurer Josh Frydenberg said federal funding would taper off and eventually stop once 80 per cent of a state’s over-16 population is fully vaccinated.
Under the phased approach, JobSaver payments in NSW will be slashed from the equivalent of 40 per cent of weekly payroll to 30 per cent of weekly payroll. Based on current inoculation trends, this first phase could occur as soon as 10 October.
Minimum and maximum payments are also set to be reduced once the 70 per cent threshold is breached. The minimum payment will drop from $1,500 to $1,125, while the maximum payment will also drop, from $100,000 to $75,000 – an across-the-board payment cut of 25 per cent.
Grants will also drop, this time by 30 per cent, while grants for sole traders will drop from $1,000 to $750.
Once the state’s over-16 vaccination rate breaches the 80 per cent threshold, Commonwealth contributions will stop entirely.
Once the 80 per cent vaccination rate is met, the NSW government will continue to fund the program, which will see funding reduced again, from 30 per cent to 15 per cent of a business’s payroll.
Ms Berejiklian said the extension should give businesses across the state the certainty they need to play a role in the state’s economic reopening.
“The continuation of JobSaver over the next two months will give businesses across NSW the financial boost they need to get them through the challenge of re-opening their doors,” Ms Berejiklian said.
“The light at the end of the tunnel is so close, and this support will help see businesses and workers out to the other side and prepare them for re-launch.”
NSW Treasurer Dominic Perrottet said JobSaver’s extension will put businesses on the “front foot” as the state pivots from a support phase, to its recovery phase.
“JobSaver has helped businesses weather the storm of the latest outbreak and now is the right time to plan for the future so we can get our economy firing again,” Mr Perrottet said.
“I know [businesses] across the state are keen to open their doors, and are busy planning now that our roadmap is out.
“There’s renewed optimism in NSW.
“We are sticking by businesses and giving them the support they need to get back on the road to prosperity with the state only a few weeks away from reopening.”
You need to be a member to post comments. Become a member for free today!
