To assist NSW small businesses, the State Government is offering a grant to help cope with unavoidable costs associated with the impacts of Covid-19.

What is on offer?

The NSW Government will allow businesses to apply for grants of up to $10,000.

Eligible Businesses?

  • Have between 1 and 19 employees and an annual turnover above $75,000
  • Total Australian wages below NSW 2019-20 payroll tax threshold of $900,000
  • Based in NSW and at 1st March 2020: have an ABN and employ staff
  • Are highly impacted by the NSW Government (Covid-19 Restrictions on Gathering and Movement) Order 2020 issued on 30th March 2020, defined as a decline in turnover of 75% compared to the equivalent period (of at least two weeks) in 2019
  • Have unavoidable business costs such as utilities, overheads, legal costs and financial advice
  • Provide appropriate documentation upon application

 Evidence in Support of Eligibility

 Applicants are required to certify to the administrating agency that they meet the eligibility criteria, provide a Business Activity Statement (BAS) to demonstrate that the business has an annual turnover of $75,000 and lodge supporting documents that may be required.

 Highly Impacted Industries

 Highly impacted industries include: Accommodation and Food services, Administrative and Support Services, Arts and Recreation Services, Information Media and Telecommunications, Other Services, Retail, Transport, Real Estate, Education and Training and Wholesale Trade.

Small businesses that are not on the list of highly impacted industries, can still apply for assistance and will require a letter from an accountant confirming they meet the criteria set by the guidelines.

 How to apply?

An online application for the support grant will need to be made by 1st June 2020.

Conclusion

As businesses are currently faced with a variety of cash flow problems due to shutdowns and restrictions, this stimulus package is aimed to help. Eligible businesses are urged to apply for the scheme and any other government scheme made available to them.

Let Us Help

If your business has a turnover of over $1 million, ABJ Solutions is offering a complimentary 30 minute Zoom meeting to help answer questions and model critical decisions with you. Get in touch with us today so that we can help guide you through this challenging time.