Introduction
If your small business or not-for-profit organisation has experienced a decline in turnover as a result of COVID-19, you may be eligible for a small business recovery grant of between $500 and $3000.
This grant helps small businesses meet the costs of safely reopening or up-scaling operations.
These expenses include, but are not limited to:
- fit-out changes and temporary physical changes (for example, plastic barriers at checkouts)
- staff training and counselling
- business advice and continuity planning
- cleaning products and additional cleaning services
- additional equipment necessary to comply with social distancing or other public health measures
- marketing, communications and advertising
- digital solutions (for example, e-commerce or business websites).
This grant can only be used for purchases of eligible expenses made from 1 July 2020, and only where no other government support is available.
Note: Applications for this new grant will close 11:59pm Sunday 16 August 2020.
Eligibility
To be eligible for this grant, you must as at 1 March 2020:
- be a small business or a not-for-profit organisation (see guidelines) based in NSW
- have an ABN registered in NSW (make sure all your business details are up to date on the Australian Business Register – this is used to determine eligibility)
- have an annual turnover of more than $75,000 (a Business Activity Statement must be provided as evidence).
Where a small business does not submit a BAS to the Australian Tax Office, and meets all other criteria, the small business should contact Service NSW to discuss further. In these cases, an income tax declaration may be accepted as evidence of an annual turnover of $75,000. - employ less than 20 full-time equivalent (FTE) staff. Please note that non-employing businesses can apply which means sole traders may also be eligible.
- be able to report a payroll below the NSW 2019-2020 payroll tax threshold of $900,000
- be in a highly impacted industry by the Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020 (see guidelines). Be advised the list of industries is narrower than with the previous NSW $10,000 grants. Once your ABN is input into the online application it will give an initial indication of whether your business is eligible.
- have experienced at least a 30% decline in turnover from March to July 2020 compared to the equivalent period (of at least 2 weeks) in 2019. Please note that there are special rules that will apply to businesses that do not have a comparable reporting period.
- have costs associated with safely reopening or up-scaling your business from 1 July 2020.
Note: If you have received a COVID-19 small business support grant of up to $10,000, you may also be eligible to apply for the $3000 COVID-19 small business recovery grant.
What you need
- a MyServiceNSW Account
- your proof of identity
- your valid ABN/ACN number
- your business banking details for payment
- latest Business Activity Statement (BAS).
In addition, you will need to provide a declaration that you meet the eligibility criteria, including at least a 30% decline in turnover from March to July 2020 compared to the equivalent period (of at least 2 weeks) in 2019.
Auditing requirements
Service NSW can request a combination of the following documents to support its determination of eligibility:
- prior BAS statements
- income tax declaration
- profit and loss statements
- extractions from an accounting software
- receipts and invoices from purchases.
Successful grant recipients may be audited in the future, so you will need to keep all documentary evidence relied upon to make an application for a minimum of 5 years.
As part of an audit, you may also be required to provide evidence (for example, official receipts) demonstrating that you have used funds in accordance with the terms and conditions of this grant.
It is a criminal offence to deliberately provide false or misleading information. Applicants who receive funds for which they are ineligible will be subject to recovery by Revenue NSW.
How to apply
You can apply on line at Services NSW by clicking on below link;
https://disasterassistance.service.nsw.gov.au/sbcrg
After your application is received it will be reviewed by Service NSW. If your application is approved, payment will be transferred within 5–10 business days to your nominated business account from the date of approval.
If you require any assistance or would like this office to make an application on your behalf please get in touch with your usual Quantum Partners contact on 8373 4000 to discuss the process.
