For the next two months the JobSaver payments will be solely funded by the State Government.
This extension of the JobSaver program is to help businesses re-open their doors and get people back into jobs after the heavy covid restrictions and lockdowns in the past months.
When NSW reaches the 70% double vaccination rate, JobSaver payments will be tapered from 40% to 30 % of weekly payroll.
Then when the state hits the 80% double vaccination rate, the joint Commonwealth and NSW Government JobSaver payments will cease and the Commonwealth will end its contributions.
At that time, the NSW Government will continue to fund its 50% contribution to JobSaver payments which will be tapered from 30% to 15% of weekly payroll.
JobSaver payments will end on November 30, coinciding with the further relaxation of restrictions.
Premier Gladys Berejiklian said the light at the end of the tunnel was so close.
“This support will help see businesses and workers out to the other side and prepare them for re-launch.”
By the end of November, the NSW Government is expected to have provided more than $8 billion in direct support to businesses and individuals including through the JobSaver program and its contribution to Commonwealth Disaster Payments.
The jointly funded Commonwealth and NSW Government business support package including JobSaver, has provided a $7 billion financial lifeline to businesses over the past three months. In the next two months, this lifeline will increase to almost $12 billion provided to NSW businesses to make it through the Delta pandemic.
After NSW reaches the 80% double vaccination target the micro-business grant will continue to be available at a rate of $750 a fortnight, before ceasing on November 30.
The State Government will announce its comprehensive Economic Recovery Plan in early October.
How JobSaver payments will taper out in the next two months:
|Weekly payment range
|Weekly payments to non-employing business
|Current||40%||$1,500 to $100,000||$1,000|
|October 10||30%||$1,125 to $75,000||$750|
|80% double dose||15%||$562.50 to $37,500||$375|