Has your business been affected by the recent COVID-19 closures? Check to see if you’re eligible for newly announced government grants.
The NSW Government today announced a major new grants package and changes to the Dine & Discover program to help tens of thousands of small businesses and people across NSW impacted by the current COVID-19 restrictions.
“We always said we will do whatever it takes to support businesses and keep people in jobs during the pandemic and that is exactly what we are doing,” Ms Berejiklian said.
“The current restrictions are in place to protect people and keep the community safe, unfortunately businesses continue to incur costs such as rent, power and lost produce, and this will go some way to lessening that financial pain.”
Small Business COVID-19 Support Grant
The NSW Small Business Grant is available to businesses and sole traders with a turnover of more than $75,000 per annum but below the NSW Government 2020-21 payroll tax threshold of $1,200,000 as at 1 July 2020.
These businesses must have fewer than 20 full time equivalent employees and an Australian Business Number (ABN) registered in New South Wales or be able to demonstrate they are physically located and primarily operating in New South Wales.
(Full criteria will be available in coming days on the Service NSW website).
The amount a small business can receive will depend on the percentage of turnover they have lost during the lockdown. There will be three tiers:
- $10,000 for businesses who experience a 70% decline in turnover
- $7,000 for buisnesses who experience a 50% decline in turnover
- $5,000 for businesses who experience a 30% decline in turnover
Businesses will be able to apply for the grants through Service NSW from later in July and will need to show a decline in turnover across a minimum two-week period after the commencement of major restrictions on June 26.
More information on the NSW Small Business COVID-19 Support Grant will be available on the Services NSW website as it is announced.
Changes To Dine & Discover Voucher Scheme
Dine & Discover vouchers have been extended for use until 31 August 2021. They’ll also be able to be used for takeaway from eligible and registered Dine businesses during the restriction period, but food must be delivered direct to the home by the restaurant or café and not picked up.
COVID-19 Disaster Payment Available Australia Wide
The COVID-19 Disaster Payment was made availble to Victorians during their recent lockdown and has now been made availble Australia wide to business owners and employees who are struggling due to the lockdown.
All of the below criteria must be met for you to be eligible for these payments. You need to:
- be an Australian resident, permanent resident or eligible working visa holder
- live or work in a Commonwealth declared hotspot
- be unable to work and earn income as a result of a state lockdown
- be where the lockdown is for more than 7 days
- have liquid assets of $10,000 or less
- have used up other pandemic state-based entitlements and all paid leave entitlements except annual leave
- not receive income support payments, Pandemic Leave Disaster Payment or a state small business payment
You can get one federal (taxable) payment for each period of lockdown, excluding the first 7 days. You’ll get either:
- $325 if you’ve lost less than 20 hours of work
- $500 if you’ve lost 20 hours or more of work.
Find more information on how to claim the COVID-19 Disaster Payment.
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