2021 COVID 19 Business Grant: Up $15,000 financial support
A one-off payment to help businesses with cashflow support for the first 3 weeks of lockdown now is available for businesses in NSW.
How much is the support
In summary, eligible businesses may be entitled with one off financial support of:
- $7,500 (tier one): decline in turnover of 30% or more
- $10,500 (tier two): decline in turnover of 50% or more
- $15,000 (tier three): decline in turnover of 70% or more
Three different grant amounts above will be available 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, or
the same period in 2020, or
the 2 weeks immediately prior to any restrictions of 12 June to 25 June 2021 (inclusive).
Is your business eligible
Businesses and not-for-profit organisations that have been impacted by the Public Health Orders will be eligible if they experienced over 30% turnover decline and they
- have an ABN registered in NSW or can demonstrate that they are physically located and primarily operating in NSW as at 1 June 2021 (only one grant is available for each ABN).
- have total Australian annual wages below $10,000,000 as at 1 July 2020.
- have an aggregated annual turnover of 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 their employee headcount as at 13 July 2021 for the period which the business is receiving payments under this Grant and the JobSaver scheme.
Some businesses may require qualified accountant to provide a letter to verify the business information. This letter will be submitted to the NSW government for further assessment.
If your business is on the highly impacted industry list, you are not required to provide an accountant’s letter unless your turnover has declined over 70%.
Other evidence required
In addition to an accountant’s letter (where required – see below), applicants are required to:
- declare they have eligible expenses for which no other government support is available
- declare their employee headcount at 13 July 2021
- declare they will maintain their employee headcount at the 13 July 2021 level for the period for which the business is receiving payments under this Grant and the JobSaver scheme (employers will remain eligible if employees voluntarily resign)
- provide details of their qualified accountant, registered tax agent or registered BAS agent for possible compliance checking (where an ‘accountant’s letter’ is not required);
- submit an income tax return (or Notice of Assessment) or other documentation to demonstrate their business had an aggregated annual turnover of between $75,000 and $50 million (inclusive) for the year ended 30 June 2020
- lodge other supporting documents as required to demonstrate that they meet the eligibility criteria.
How to apply
You will need a MyServiceNSW Account. Click here to apply directly online.