COVID-19 Support Grant for Businesses

The Queensland and New South Wales Governments have announced a suite of support grants to assist businesses affected by the COVID-19 lockdowns.

QUEENSLAND

The Queensland Government has announced a $5,000 grant available to businesses that have experienced at least a 30% reduction in turnover as a result of the lockdown. Eligible impacted businesses include;

• small and medium businesses - annual turnover of more than $75,000 and annual payroll in Queensland of up to $10 million

• large businesses in the hospitality and tourism sector in 11 local government areas currently in lockdown. These are entities with a turnover greater than $10 million that have experienced a 30% reduction in turnover.

Online applications will open in mid-August.

The payments to small businesses will be made through the Queensland Rural and Industry Authority

You will be paid the grant funds within 2 weeks of being notified that your application has been approved.

More information on how to apply, including the opening date for applications together with the supporting information, will be available in the coming days.

NEW SOUTH WALES

If you’re a business, sole trader or not-for-profit organisation in NSW and you've been impacted by the recent COVID-19 restrictions, you may be eligible various State Government Assistances payments. An outline of the packages available are;

Business Support Payment

You may be eligible for a one-off grant depending on the decline in turnover experienced over a minimum 2-week period from 26 June 2021 to 17 July 2021, compared to the same period in 2019:

• $7,500 for a decline of 30% or more

• $10,500 for a decline of 50% or more

• $15,000 for a decline of 70% or more

To be eligible for the grant among other things you must be able to demonstrate that;

• your ABN registered business was operating in NSW on 1 June 2021

• have had total annual Australian wages of $10 million or less as at 1 July 2020

• have had a national aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2020

Job Saver Payment

To be eligible for the Job Saver Payment you need to

• Maintain same number of employees at the same level as of 13th July 2021

• Experience decline in turnover of 30% or greater

• have turnover between $75,000 and $50 million

Payment Amount

• Employing businesses: 40% of weekly payroll, with a minimum payment of $1,500 per week and a maximum payment of $10,000 per week

• Non-employing business: $1,000 per week.

Closes 18th October 2021

Micro Business Grant To be eligible for Micro Business Grant you need to;

• demonstrate decline in turnover of 30% or greater

• have turnover between $30,000 and $75,000

• Businesses that provide the primary income source for a person associated with the business

Payment Amount

• $1,500 per fortnight

Closes 18th October 2021

Payroll Tax Deferrals

Any business paying payroll tax can can opt in to defer payments on the 2020-21 annual reconciliation return and wages paid in July and August.

• Deferral of 2020-21 reconciliation (due 28 July) and payments due on 7 August and 7 September until 7 October 2022.

• All Payments can be deferred for a period of 12 Months Interest free

Payroll Tax Reduction A 25% Reduction in Payroll tax liability for the 2021-22 year is available to;

• NSW Business’s that have a total wage Australian wage expense of less than $10 Millions

• Decline in turnover of 30% or greater

State and Federal Governments are regularly announcing COVID-19 relief support packages. Please contact the team at DiSavia Consulting for what support is available to you and your business