The JobSaver program will be continued over the next two months to provide a financial boost to NSW businesses and to assist employees regaining their jobs. This extension of the JobSaver program will be funded solely by the NSW Government without the current co-funding support of the Commonwealth.
On the 10th of October, it is predicted that NSW will reach a 70% double vaccinated rate; and in turn the JobSaver payments will be decreased from 40% to 30% of weekly payroll.
By the end of October, it is anticipated that NSW will reach the 80% double vaccinated rate; which will then see the JobSaver payments decreased again from 30% to 15% of weekly payroll.
After NSW reaches the 80% double vaccinated rate, the Commonwealth will cease their co-contribution to the JobSaver program and the NSW Government will be providing the remaining financial support.
Please refer to the below table for a breakdown of the JobSaver payments timeline:
Table Source: NSW Treasury
Over the past three months, the NSW Government and the Commonwealth have contributed $7 billion in financial support to businesses and employees. During the next two months, this figure is expected to reach $12 billion.
“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”
– Premier Dominic Perrottet
Please do not hesitate to contact Berkmans if you have any questions.