ABN change to reduce red tape and delays for business
Businesses will soon be able to register themselves in up to four business categories (or ANZIC codes) under a single ABN, in a change announced today by the Tax Commissioner.
NSW Small Business Commissioner Chris Lamont said the announcement would save small businesses across NSW considerable time and money.
“We have been working with the ATO on this issue and I’m delighted with the announcement from the Tax Commissioner,” Mr Lamont said.
“It means that ABN holders who operate more than one business will find it easier to access government support measures that target specific industries. It should also assist state government agencies in providing timely and targeted industry and small business support.”
The Tax Commissioner gave the example of a winery that operates a restaurant and also offers accommodation. The change should make it easier for such a business to qualify for assistance aimed at any of those business categories.
The change will also make it easier for agencies like the Australian Bureau of Statistics to more accurately profile the business landscape.
More information on the change to ANZIC codes is available on the new ABRS website.
Latest Covid-19 update for small businesses – Support Package
The NSW Government has announced an economic support package aimed at helping businesses affected by the current COVID-19 lockdown.
Key features of the package include:
- The business grants program announced two weeks ago has been expanded, with grants between $7500 and $15,000 soon to be available to eligible businesses with annual wages up to $10 million.
- A new grant program has been announced for smaller micro businesses with turnover between $30,000 and $75,000.
- A new business and employee support program will be delivered together with the Commonwealth to provide cashflow support to businesses to help them retain staff.
- Businesses will benefit from payroll tax waivers of 25 per cent for businesses with Australian wages of between $1.2 million and $10 million that have experienced a 30 per cent decline in turnover.
- Commercial, retail and residential landlords liable for land tax will be eligible for a land tax concession where they reduce the rent of their tenant.
Further information will be available on the Service NSW website in the coming days: https://www.service.nsw.gov.au/campaign/covid-19-help-businesses.
Fee waivers for small business
The NSW Government has announced an optional deferral of payroll tax payments due in July 2021 and the deferral of hotel June quarter gaming machine tax, with the Chief Commissioner of State Revenue able to provide for appropriate repayment arrangements on a case by case basis.
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Make your business COVID Safe in 3 easy Steps
Georges River council, with the help of the state government is looking to minimise the predicted second wave of COVID-19. In order to do this, Council and the state government needs the help of businesses within our community to become COVID safe.
To do this, NSW businesses are required to:
- Complete a COVID-19 Safety Plan
- Register as a COVID Safe business (with the NSW Government)
- Show that they are COVID Safe (download/display COVID Safe posters, consider methods for contact tracing, share with staff etc)
Please complete he COVID-19 Safety Plan and register as a COVID safe business by clinking on the link COVID SAFE BUSINESS or alternatively please visit https://www.nsw.gov.au/covid-19/covid-safe-businesses . Note that COVID-19 Safety Plans have been designed by industry type that can also be accessed by the COVID Safe business website
Should you require any more information please call our customer service centre 9330 6400.