There is support for businesses and individuals available
NSW Business Support
$5.3 billion in COVID-19 business grants and payments open for applications over the next two weeks to help businesses with cash flow, maintain staffing levels and expenses.
More information is available as Service NSW Covid-19 Business Support 2021
There are currently three grants available for business:
COVID-19 Business Grant
A one-off payment to help businesses with cashflow support for the first 3 weeks of lockdown. Grant varies from $7,500 up to $15,000 depending on the decline in turnover.
To be eligible your business must demonstrate a revenue decline of 30% or more, aggregated annual turnover between $75,000 and $50 million, and payroll up to $10 million.
Need to compare a 2-week period from 26 June 2021 to 17 July 2021 compared to the same period in June and/or July 2019.
Apply here Covid-19 Business Grant
Note: Businesses that do not meet the eligibility criteria due to special circumstances; such as those businesses that had not commenced operations until after June/July 2019 or businesses that do not submit a BAS, may need to contact Services NSW directly. As detailed guidelines on this aspect have not been released, please contact us for assistance if you believe this applies to your business.
JobSaver
Fortnightly payments to help maintain employee headcount (as at 13 July) and provide cashflow support to businesses
Employing businesses: 40% of weekly payroll, with a minimum payment of $1,500 per week and a maximum payment of $10,000 per week
Non-employing business: $1,000 per week.
To be eligible your business must demonstrate a revenue decline of 30% or more, and annual turnover between $75,000 and $50 million.
Opening late July – get notified here JobSaver
Micro Business Grant
A fortnightly payment of $1,500 for businesses with a turnover between $30,000 and $75,000.
To be eligible your business needs annual turnover of $30,000 to $75,000, revenue decline of 30% or more and the businesses must provide the primary income for a person associated with the business.
Available late July – get notified here Micro Business Grant
COVID-19 Disaster Payments – individuals
How much you get depends on your situation. More information and the application process is available at Services Australia
First and second period
You’ll get the following amount for the first and second period of a restricted movement order.
If you lost less than 20 hours work per week, you’ll get $325 for each relevant period, if you're eligible.
If you lost 20 hours or more of work per week, you’ll get $500 for each relevant period, if you're eligible.
Third period and beyond
You’ll get the following amount for the third and later periods of a restricted movement order from:
15 July 2021 for people in parts of Sydney
18 July 2021 for people in Greater Sydney.
If you’re eligible, you’ll get $375 for each relevant period if you lost either:
between 8 and less than 20 hours of work per week
a full day of your usual work hours per week.
If you lost 20 hours or more of work per week, you’ll get $600 for each relevant period, if you’re eligible.
A full day of your usual work is what you were scheduled to work but could not because of a restricted movement order. This includes not being able to attend a full time, part time or casual shift of less than 8 hours.
You can check the key eligibility dates for who can get it.
The COVID-19 Disaster Payment is a taxable payment. This means you’ll need to include it in your income tax return.
We can pay it from the date of activation for an area where both of the following apply:
the area has a public health lockdown or period of restricted movement for more than 7 days
the area is a declared COVID-19 hotspot.
General Eligibility Rules
You must meet the general eligibility rules to get the COVID-19 Disaster Payment. You’ll also need to meet some rules for the COVID-19 health order that affected you.
You need to meet all the eligibility rules to get the payment.
To get it you must meet all of the following:
you're an Australian resident or hold an eligible working visa
you're 17 years or older
you're not getting an income support payment, ABSTUDY Living Allowance, Dad and Partner Pay or Parental Leave Pay
you're not getting the Pandemic Leave Disaster Payment, a state or territory pandemic payment or a state small business payment for the same period
you live in, work from or have visited a Commonwealth-declared COVID-19 hotspot
you live in, work from or have visited a location subject to a state or territory restricted movement order
you had paid employment and because you were in the COVID-19 hotspot or are subject to restricted movement, you can’t attend work on or after day 8 of the lockdown
you’ve lost income on or after day 8 of the lockdown and don’t have any appropriate paid leave entitlements
the liquid assets rule for your event.
Liquid assets are any funds readily available to you in cash or savings, or assets that can easily be changed into cash. For example, money loaned to other people.
A hotspot is an area of COVID-19 local transmission declared by the Chief Medical Officer. The Department of Health website lists the current hotspots.
You’ll also need to meet any rules for the COVID-19 health order that affected you. These rules depend on where you live, work or visited, and the date you were affected.
Lockdown is a period of restricted movement when people must stay at home and can only leave for approved reasons. Read about the eligibility rules and relevant dates such as day 8 of the lockdown for events in the following states:
Leave entitlements
General eligibility rules - leave entitlements
You must use any appropriate paid leave you have before you can get the COVID-19 Disaster Payment.
You need to use any appropriate paid leave entitlements before you can get the payment.
Leave that is included
Appropriate paid leave entitlements include state pandemic payments and the Pandemic Leave Disaster Payment.
We’ll consider you’ve used all your paid leave entitlements in any of these situations:
you have no appropriate paid leave
you don’t have enough appropriate paid leave to cover the relevant period
your employer can’t pay appropriate paid leave entitlement due to financial hardship.
Leave that is not included
Appropriate paid leave does not include any of these types of leave:
annual leave
unpaid leave
paid sick and carer’s leave
long service leave
compassionate leave when your employer has stood you down without pay.
This means you don’t need to take these types of leave before you can get the COVID-19 Disaster Payment.
For more information or assistance please contact Infinite Accounting Solutions on 02 9899 4730 or via the contact page at www.ias-ca.com.au