What NSW and Federal Grants Are Available To NSW Business?

By John Kalachian (02) 92670108

If your business is adversely impacted by NSW lockdowns, support is available.

The NSW and Federal Governments have released 2 major grants that are available to support business during extended lockdowns of four weeks or more.

  • Up to $15,000 through the expanded NSW 2021 COVID-19 business grants program
  • Up to $100,000 in weekly JobSaver cashflow support payments

2021 COVID-19 Business Grant of up to $15,000

The COVID-19 Business Grant provides up to $15,000 to eligible businesses (including not-for-profits and sole traders) with annual wages of up to $10 million.

The value of the grant is determined by the impact of the lockdown on your turnover. Your business will need to prove a decline in turnover across a minimum 2 week period from 26 June 2021 to 17 July 2021 compared to a number of set periods.

Eligibility

The 2021 COVID-19 business grant is available if you:

  • Have an active ABN; and
  • Can demonstrate that your business was operating in NSW as at 1 June 2021; and
  • Have had total annual Australian wages of $10m or less as at 1 July 2020; and
  • Have had an aggregated annual turnover between $75,000 and $50m (inclusive) for the year ended 30 June 2020; and
  • Have unavoidable business costs from 1 June 2021 for which there is no other government support available; and
  • Maintain employee headcount as at 13 July 2021; and
  • Have experienced a decline in turnover of at least 30% over a minimum 2-week period from 26 June 2021 to 17 July 2021 compared to a number of set periods

JobSaver: Cashflow Support of up to $100,000

JobSaver is a weekly payment between a minimum of $1,500 and maximum of $100,000 based on 40% of the NSW payroll payments of your business (including not-for-profits).

Eligible businesses without employees that meet the eligibility criteria (such as sole traders with no employees), will be able to access a payment of $1,000 per week.

The cashflow support will cease when lockdown restrictions are eased or when the Commonwealth hotspot declaration is removed.

Eligibility

  • Have an active ABN; and
  • Can demonstrate that your business was operating in NSW as at 1 June 2021; and
  • Had an aggregated turnover between $75,000 and $250 million for the year ended 30 June 2020; and
  • Maintain employee headcount as at 13 July 2021; and
  • Have experienced a decline in turnover of at least 30% over a minimum 2-week period from the start of the Greater Sydney Lockdown (from 26 June 2021), compared to a number of set periods.

Can I get the JobSaver and the business grant?

If your business meets the eligibility conditions, you can access both the Business Grant and JobSaver.

If your business does not have any employees, you cannot access the grant if persons associated with the business, and who derive income from it, have applied for, or are receiving, the Commonwealth COVID-19 Disaster Payment.

How to Apply

We’re available to assist you with the lockdown support for you and your business.  We can provide a complementary assessment to see if your business could be available for 1 or more of the grants. Please contact John Kalachian at Fortis Accounting Partners on 02 9267 0108

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