The NSW government has announced support grants to assist small businesses impacted by the latest COVID restrictions. Here is what you need to know.
The grants will be divided into two streams
1. Small Business COVID-19 Support Grant
Available to businesses and sole traders with a turnover of more than $75,000 per annum but below the NSW Government 2020-21 payroll tax threshold of $1,200,000 as at 1 July 2020.
These businesses must have fewer than 20 full time equivalent employees and an Australian Business Number (ABN) registered in New South Wales or be able to demonstrate they are physically located and primarily operating in New South Wales.
(Full criteria will be available in coming days on the Service NSW website).
2. Hospitality and Tourism COVID-19 Support Grant
Available to tourism or hospitality businesses that have a turnover of more than $75,000 and an annual Australian wages bill of below $10 million, as at 1 July 2020.
To apply for a grant businesses must have an Australian Business Number (ABN) registered in New South Wales or be able to demonstrate they are physically located and primarily operating in New South Wales. (Full criteria will be available in coming days on the Service NSW website).
Other key elements of the package announced today include:
- Dine & Discover vouchers will be able to be used for takeaway from eligible and registered Dine businesses during the restriction period, but food must be delivered direct to the home by the restaurant or café and not picked up. Dine & Discover vouchers cannot be redeemed for takeaway using third party delivery platforms.
- A further one-month extension of Dine & Discover vouchers until 31 August 2021 to allow people more time to use them.
- More than $11 million for increased support for people at risk of homelessness plus assistance to vulnerable temporary visa holders, asylum seekers and refugees.
- An optional deferral of payroll tax payments due in July 2021 and the deferral of hotel June quarter gaming machine tax, with the Chief Commissioner of State Revenue able to provide for appropriate repayment arrangements on a case by case basis.
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NSW gov announces grants for small business impacted by COVID restrictions
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