Government Business and Individual Support – What’s Available Today?
Business Support – What’s available today?
There are currently three grants available for business:
1. 2021 COVID-19 Business Grant
- A one-off payment to help businesses with cashflow support for the first 3 weeks of lockdown. Grant varies from $7,500 up to $15,000 depending on the decline in turnover.
- To be eligible your business must demonstrate a revenue decline of 30% or more, aggregated annual turnover between $75,000 and $50 million, and payroll up to $10 million.
- Need to compare a 2-week period from 26 June 2021 to 17 July 2021 compared to the same period in June and/or July 2019
- Applications open on 19 July 2021 and close at 11:59pm on 13 September 2021.
Eligibility
To be eligible for the grant, you must:
- have an active Australian Business Number (ABN)
- demonstrate your business was operating in NSW as at 1 June 2021
- have had total annual Australian wages of $10 million or less as at 1 July 2020
- have had an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2020
- have business costs for which there is no other government support available
- maintain your employee headcount as at 13 July 2021. See the guidelines for definitions.
Please see detailed Eligibility guidelines here
What you need
- a MyServiceNSW Account
- your proof of identity
- your valid ABN/ACN number
- your business banking details for payment
- Australian income tax return or Notice of Assessment
- qualified accountant, registered tax agent or registered BAS agent details.
How to apply
- Check you meet the eligibility criteria.
- Have your documentation and evidence ready for uploading.
- Note: You cannot save and resume your application once you’ve started.
- Select the ‘Apply online’ button.
- Log in, or create your MyServiceNSW Account.
- Select and verify your identity documents.
- When your identity is verified, select ‘Continue’.
- Confirm your personal details.
- Enter your business details and answer the eligibility questions, then select ‘Next’.
- Provide information about your decline in turnover and upload your supporting documentation, then select ‘Next’.
- Enter your bank details, then select ‘Next’.
- Review your application.
- Check the declaration boxes.
- Select ‘Submit’ to complete your application.
2. JobSaver
- Fortnightly payments to help maintain employee headcount (as at 13 July) and provide cashflow support to businesses
- 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.
- To be eligible your business must demonstrate a revenue decline of 30% or more, and annual turnover between $75,000 and $50 million.
Applications open late July, get notified here
3. Micro Business Grant
- A fortnightly payment of $1,500 for businesses with a turnover between $30,000 and $75,000.
- To be eligible your business needs annual turnover of $30,000 to $75,000, revenue decline of 30% or more and the businesses must provide the primary income for a person associated with the business.
Applications open late July, get notified here
Financial Support for Individuals and Households
The Australian Government have payments and support if you’re affected by COVID-19. They have developed a payment guide to check what you can get.
Australian Government payments and support
Payments are available for people unable to work due to COVID-19 restrictions, including:
To find out about these and other payments, visit Services Australia’s payments and services during coronavirus.
Other support provided:
The team are here to help you. If you have any questions, please reach out to your accountant.