Following on from last week’s announcements on support for businesses impacted by the recent COVID-19 restrictions NSW businesses can now apply for a one off grant of between $7,500 and $15,000.
Service NSW’s application website was offline for a while yesterday unable to cope with the unprecedented demand to make applications. With three tiers of grants (outlined below), and one opportunity to submit an application for payment, it is worthwhile taking the necessary time to put together the supporting evidence so businesses get the highest tier of grant they are entitled to.
The grants are available to businesses to cover business costs incurred from 1 June 2021 to 17 July 2021 (after which JobSaver commences). The amount of the grant is based on the decline in turnover as a direct result of Public Health Orders:
Grant Amount
| Decline in turnover | Amount of grant |
|---|---|
|
70% or more |
$15,000 |
|
50% to 70% |
$10,500 |
|
30% to 50% |
$7,500 |
Eligibility
The decline in turnover is calculated over a minimum two-week period from 26 June 2021 to 17 July 2021 when compared to the same period in 2019.
In addition, an eligible business must:
- Have an ABN and have been operating in NSW as at 1 June 2021
- Have an annual wage bill of $10m or less as at 1 July 2020
- Have an aggregated turnover of between $75,000 and $50m for the year ended 30 June 2020
- Have business costs for which no other government support is available
- Maintain employee headcount as at 13 July 2021 for the period for which the grant payment is made
How to Apply
Your Prosperity team can apply on your behalf or you can submit an application yourself.
What you need before you Apply
- MyServiceNSW Account
- proof of identity
- a valid ABN/ACN number
- your business banking details for payment
- Australian income tax return or Notice of Assessment
- Details of your qualified accountant, registered tax agent or registered BAS agent
In addition, you will need to submit a letter from your qualified accountant, registered tax agent or registered BAS agent as evidence of your decline in turnover if one of the following applies:
- Your business is not on the highly impacted industries list. This applies for all three grant tiers.
- Your business is on the highly impacted industries list and you are eligible for a $15,000 grant (i.e. decline in turnover of 70% or more). Note – you will not receive the full amount unless you provide the letter.