Applications for the 2021 COVID-19 Business Grant Now Open
The first NSW COVID-19 financial support package is now active and applications can be made via your MyServiceNSW account and using the links below.
Grants are open from 19 July 2021 to 13 September 2021
In this newsletter we will provide key information on the eligibility and information requirements for the grant. Additional information can be found on the Service NSW webpage by following the below links:
- Information on the grant, eligibility requirements and the application process can be found here: https://www.service.nsw.gov.au/transaction/2021-covid-19-business-grant
- The detailed grant guidelines can be found here: https://www.service.nsw.gov.au/2021-covid-19-business-grant-guidelines
Eligibility Requirements:
To be eligible for the grant, you must:
- have an active Australian Business Number (ABN)
- demonstrate your business was operating in NSW as at 1 June 2021
- have had total annual Australian wages of $10 million or less as at 1 July 2020
- have had an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2020
- have business costs for which there is no other government support available
- maintain your employee headcount as at 13 July 2021.
(Click here to see the guidelines for definitions)
Three different grant amounts will be available depending on the decline in turnover experienced over a minimum 2-week period from 26 June 2021 to 26 July 2021, compared to the same period in 2019:
- $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.
Application Process:
The application for the grant is made via the MyServiceNSW account (click here to apply) and as such each business will need to complete the application. Please note that as tax agents we do not have access to this system and cannot complete the applications on your behalf. You can start the application by selecting “Apply Online” from the bottom of the following page:
https://www.service.nsw.gov.au/transaction/2021-covid-19-business-grant
Grants are open from 19 July 2021 to 13 September 2021
In order to complete the application you will need the following details:
- a MyServiceNSW Account (click here to apply)
- your proof of identity
- your valid ABN/ACN number
- your business banking details for payment
- Australian income tax return or Notice of Assessment
- qualified accountant, registered tax agent or registered BAS agent details.
Evidence Required:
In order to substantiate that your business has met the required drop in turnover Crispin & Jeffery will need to provide you with a letter confirming the following:
- The lowest fortnightly turnover between 26 June 2021 and 26 July 2021
- The business turnover for the same period in June or July 2019
- The drop in turnover experienced in the selected period
- Confirmation that total group wages are below $10mill per annum at 1 July 2021
If you intend to apply, can you please provide us with the above information, including substantiation where appropriate, and we will provide the required letter as soon as possible.
You will also need to submit a copy of your business tax return from the year ended 30 June 2020 to confirm that your business income is greater than $75,000.
Additional Information:
- This grant is intended to provide cash flow support for business until the JobSaver scheme becomes active. When information for this scheme is released we will provide a further update.
- Non-employing businesses are not eligible to apply if persons associated with the business, and who derive income from it, have applied for, or are receiving, the Commonwealth COVID-19 Disaster Payment.
- Businesses that cannot demonstrate the minimum $75,000 aggregated annual turnover or the minimum decline in turnover should contact Service NSW as they may still be eligible to apply if they:
- were not operating for the full year to 30 June 2020 (e.g. they are a new business) but can demonstrate income consistent with $75,000 per annum over a shorter period prior to 26 June 2021, and they can demonstrate they have been significantly impacted by the Public Health Orders, or
- their turnover in June/July 2019 was not representative of their usual or average turnover (e.g. due to drought or bushfires) which is usually $75,000 per annum or more, and they can demonstrate they have been significantly impacted by the Public Health Orders.
- Where a business does not submit a BAS to the Australian Tax Office, the business should contact Service NSW to discuss further.
- There is a micro-business grant to be released in the near future for businesses with turnover between $30,000 and $75,000.
- There will also be a JobSaver scheme to be announced in the near future.