This package has two key components — $700 million in extra health funding and $1.6 billion in tax cuts to support jobs.
Key elements of the NSW COVID-19 package include:
Health boost
$700 million extra funding for NSW Health. This will assist in doubling ICU capacity, preparing for additional COVID-19 testing, purchasing additional ventilators and medical equipment, establishing acute respiratory clinics and bringing forward elective surgeries to private hospitals.
Business support and jobs
$450 million for the waiver of payroll tax for businesses with payrolls of up to $10 million for three months (the rest of 2019-20). This means these businesses will save a quarter of their annual payroll tax bill in 2019-20
$56 million to bring forward the next round of payroll tax cuts by raising the threshold limit to $1 million in 2020-21
$80 million to waive a range of fees and charges for small businesses including bars, cafes, restaurants and tradies
$250 million to employ additional cleaners of public infrastructure such as transport assets, schools and other public buildings
more than $250 million to bring forward maintenance on public assets including social housing and crown land fencing
$500 million to bring forward capital works and maintenance.
More information is available via the NSW Government website here
For more information please contact Infinite Accounting Solutions on 02 9899 4730 or via the contact page at www.ias-ca.com.au