Following on from the Queensland Government announcement on the COVID-19 Business support, we are closely monitoring updates to eligibility requirements, supporting evidence required and details on how to apply for the $5,000 grant.
Currently there has not been any further details released on the requirements for the Grant, including the period where the 30% decline in turnover is measured, alternative tests for new businesses, or the amount of evidence required as part of the application.
The current eligibility criteria are as follows:
Businesses must:
- have a turnover of more than $75,000 per annum
- have an annual payroll in Queensland of less than $10m
- have experienced a 30% or more reduction in turnover as a result of the lockdown
We do know that the Government has indicated that the grants will be paid within 2 weeks of the application being approved, and that applications will be assessed in the order that they are received.
We will keep you updated once further information becomes available.
Next Steps
No further action is required at this stage, as soon as the government has released further information, we will be in contact with the procedures required to gather the information to assist you with the application.
We will keep you updated once further information becomes available. Meanwhile if you have any queries please speak to your Prosperity contact.
