Following our earlier newsletter regarding the NSW State Government Small Business Covid-19 Support Grant we advise that the application process is now available on the Services NSW website.
Click here to start the application process which requires you to login or create a My Services NSW account;
As a reminder, this grant has been designed to provide financial support to those small businesses that have been highly impacted as a result of COVID-19.
If your small business or non-profit organisation has experienced a significant decline in revenue as a result of COVID-19, defined as a decline in turnover of at least 75% compared to an equivalent period (of at least 2 weeks) in 2019, you may be eligible for the small business support grant of up to $10,000.
This grant is to be used to support the ongoing operations of eligible small businesses impacted from the COVID-19 pandemic following the NSW Public Health Order of 31 March 2020.
Funds may only be used for unavoidable business expenses that are not supported by other government funding. These expenses include, but are not limited to:
- utilities
- council rates
- telecommunication charges
- insurance payments
- professional advice
- wages for an employee not eligible for Job Keeper payments
- franchise fees
Eligibility
To be eligible for this grant, you must:
- be based in NSW
- be a small business owner (sole trader, partnership, private company or trust that carries on a business)
- be registered with an ABN as at 1 March 2020
- have an annual turnover of more than $75,000 (a Business Activity Statement must be provided as evidence) ***
- be able to report a payroll below the NSW 2019-2020 payroll tax threshold of $900,000
- employ 1-19 full-time workers as at 1 March 2020
*** 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 eligibility further. In these cases, an income tax declaration may be accepted as evidence of an annual turnover of $75,000.
This link provides further guidance on the application and eligibility criteria and we encourage you to read the guidance carefully prior to applying.
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Finally, to avoid confusion, this scheme is designed to support businesses that have been highly impacted by the NSW Government Covid-19 Restrictions on Gathering and Movement) Order 2020 issued on 30 March 2020, defined as a decline in turnover of 75 per cent compared to the equivalent period (of at least two weeks) in the 2019 financial year.
For small businesses that are not on the list of highly impacted industries, a letter from an accountant confirming the decline in turnover will be required. This accountant’s letter must confirm all details are met under the basic eligibility criteria.
Should you require our assistance in this regard, we ask that you email nswgrant@quantumpartners.net.au and we will respond with required information and our reduced fee proposal.
