New South Wales Premier Gladys Berejiklian said her government "fought for our citizens" in clinching new economic aid for workers and businesses hit by the Sydney lockdown.
The new coronavirus economic assistance measures were unveiled as Ms Berejiklian announced a four-week extension of the lockdown after NSW recorded 177 new local cases.
JobSaver payments will now be available to businesses with an annual turnover of between $75,000 and $250 million, up from $50 million, which have experienced a revenue decline of 30 per cent or more.
READ MORE: Greater Sydney lockdown extended for four weeks, as NSW records 177 new cases
The maximum weekly payment has also been increased, with businesses that maintain their employee headcount now able receive between $1500 and $100,000 per week, up from $10,000, with payments based on 40 per cent of their weekly NSW payroll.
Ms Berejiklian said the additional support would provide workers and business the financial assistance needed during the extension of the lockdown.
"We know these restrictions are tough but necessary to get the current situation under control and that is why we are coming to the table to help businesses and individuals with more financial support," Ms Berejiklian said.
"We don't want people to have to worry about how they are going to keep the lights on or reopen their businesses when restrictions ease, which is why we are investing billions to give people that piece of mind."
READ MORE: How to claim the COVID-19 Disaster Payment
According to estimates, NSW is losing about $180 million every day while lockdown restrictions are in place.
Ms Berejiklian also foreshadowed further changes to welfare payments, expected to be confirmed by Prime Minister Scott Morrison later today.
She said after talks between state and federal ministers, people already receiving welfare payments will now be eligible for federal disaster payments. But there will be no return of the Federal Government JobKeeper wage subsidy.
"It was made clear to us some weeks ago that JobKeeper was off the table, notwithstanding that can I say we fought for our citizens and we have received additional funding support from the Commonwealth and I do want to thank the Prime Minister and the Federal Treasurer providing that extra support," Ms Berejiklian said.
"Please note that it involves extra payment for disaster payment so if you are out of work, you will get extra dollars every week and only need to apply once. Every week the money go automatically to your account. If you are out of work or have reduced hours, please do not worry, you will get that weekly payment."
NSW Treasurer Dominic Perrottet said the expansion of financial relief builds on earlier packages.
"We know that keeping workers in jobs is critical, which is why we've fought hard to secure additional support to help businesses hold onto their staff," Mr Perrottet said.
Applications for JobSaver opened on Monday with more than 14,000 applications already received and almost $28 million approved for payment so far. Payments are expected to start hitting bank accounts from July 31.
READ MORE: Adults in Sydney should strongly consider any available COVID vaccine, says ATAGI
The NSW Treasury says businesses can expect to receive funds in their accounts within five to 10 business days from their approval date. And the arrangements announced today will be backdated, so businesses that have already received a first payment on previous settings will be topped up when their next payment is made.
JobSaver payments are available from week four of the lockdown. Non-employing business remain eligible for a maximum of $1000 per week.
