NSW economic relief and stimulus package summary
In response to the coronavirus (‘COVID-19’) pandemic currently impacting the economy and businesses generally, each Australian State and Territory Government has announced relief and other support packages as part of the broader economic stimulus measures. To assist tax practitioners and their clients, the NTAA has prepared the following table which briefly summarises some of the key initiatives announced by the NSW State Government as at the time of writing.
WARNING – The following table has been compiled from information that was available from the relevant State and Territory revenue office and Government websites as at 17 April 2020 and is subject to constant change as further initiatives are announced. Please note that the information contained in the table is intended to provide a broad overview of the key initiatives for each NSW (as announced at the time of writing). The information should not be relied upon as advice and should be used as a guide only. Anyone wishing to rely on the information presented in these tables, should undertake their own checks with the relevant State or Territory authorities, together with any supporting legislation or regulations, or seek specialist advice where necessary, for specific details of the various measures (including eligibility requirements) and to keep abreast of developments.
It should be noted that each State and Territory has announced numerous other assistance measures (i.e., in addition to those set out in the summary tables) to provide financial and other support for businesses, individuals, families and communities.
A good starting point for finding information about the various initiatives on offer by each State and Territory, including those provided by the Federal Government, is the COVID-19 dedicated Australian Government website, which is located at www.australia.gov.au
If you have any further questions, please don’t hesitate to email me at [email protected]
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