The NSW Government announced their $2.3 billion stimulus package to combat the Novel Coronavirus (COVID-19) today (17 March 2020).
The two key benefits announced for privately-owned early childhood education and care services are:
- the $450 million for the waiver of payroll tax for businesses with payrolls of up to $10 million for three months (the remaining quarter of FY2019/2020); and
- $56 million to bring forward the next round of payroll tax cuts by raising the threshold limit to $1 million in FY2020/2021.
The waiver means NSW-based early childhood education and care (ECEC) services will save a quarter of their annual payroll tax bill in FY2019/2020. And the other can help delay services from payroll tax altogether.
These benefits are in addition to the NSW Department of Education's announcement on 12 March 2020, in particular, the relaxation of qualifications and ratios (after application via NQAITS or 1800 619 113 to request waivers) when services face challenges in complying with the National Regulations for staffing in light of COVID-19 and the existing labour shortages.
The Australian Childcare Alliance NSW thanks the NSW Government for listening to the sector, and looks forward to continuing to find more solutions to assist NSW's ECEC services especially in light of COVID-19.
PUBLISHED: 17 MARCH 2020