Given the lockdown extensions, state, territory and federal governments are continuing support for affected small businesses.
As a small business supporter, AAA Mortgages made this article to inform any owners of grants and schemes they are eligible for during these times.
NSW 2021 COVID Business Grant
If your small business had to close or experienced reduced demand during the first three weeks of the Greater Sydney lockdown-- June 26th- July 17th-- you may be eligible for a one-off grant of $7,500, $10,500 or $15,000.
The grant can be used for the following costs incurred from June 1st to July 17th:
Salaries and wages
Utilities and rent fees
Financial, legal or other advice
Marketing and communications
Perishable items
And other costs.
Depending on the decline in turnover, the amount a business can receive will vary as follows:
$7,500 for a decline of 30% or more
$10,500 for a decline of 50% or more
$15,000 for a decline of 70% or more.
To receive the amounts, businesses must demonstrate their relevant decline over a minimum two week period from May 27th to July 17th compared to the same period in 2019/2020.
Applications close after 11:59 pm on September 13th. Click to read more about your eligibility and apply now.
The NSW 2021 COVID-19 Micro-Business Grant
If you own or run a micro-business with an annual turnover between $30,000-$75,000, you may be eligible for a fortnightly payment of $1,500 to cover business expenses over the Greater Sydney lockdown.
Eligible applicants can use it to cover costs incurred from June 1st, including:
Salaries and wages
Utilities and rent
Financial, legal or other advice
Marketing and communications
Perishable items
Other costs
To receive the payment, owners must submit proof of a 30% turnover decline from lockdown during the specified period and turnover of over $30,000 and less than $75,000 for the end of the 2020 financial year.
For this grant, applications close after 11:59 pm on October 18th. Click to read more about your eligibility and apply today.
Payroll concessions and deferrals
All businesses in NSW using payroll tax can defer payments of their 2020-2021 tax reconciliation until October 7th, with an interest-free payment plan lasting up to a maximum of 12 months.
Likewise, businesses with wages between $1.2 million and $10 million that experienced a 30% turnover decline will receive a 25% reduction of their 2021-2022 tax to support smaller businesses.
Read here to find out more.
Commercial or Retail Businesses
For affected tenants in these properties, you will be offered protection in NSW by the Small Business Commissioner- and so landlords will not be able to lock out or evict you without going to mediation first.
For eligibility, tenants must meet the following:
Have an annual turnover of $50 million or less
Be eligible for either the Micro-business COVID Support Grant, COVID-19 NSW Business Grant, or JobSaver.
Click to learn more.
And to find out more on all of these support plans, click here.
Support outside of NSW?
Not in NSW? Not a problem. We compiled a list of links outlining general, state and territory-specific grants and schemes to help out your small business:
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