The NSW State Government 2021 COVID-19 Business Grant provides support to a business, sole trader, or not-for-profit organisation in NSW that has experienced reduced demand or had to close due to public health orders.

Eligible businesses will receive a one-off grant of $7,500 or $10,500 or $15,000 for the first 3 weeks of the NSW restrictions from 26 June to 17 July 2021.

Applications close at 11:59 pm on 1 October 2021.

We set out below general information on the NSW 2021 COVID-19 Business Grant:

Use of the Grant

Eligible businesses can use the grant for business costs incurred from 1 June 2021 to 17 July 2021, including:

  • • Salaries and wages
  • • Utilities and rent
  • • Financial, legal or other advice
  • • Marketing and communications
  • • Perishable goods
  • • Other business costs.

Eligibility

To be eligible, businesses must satisfy the below criteria:

  1. Have an active Australian Business Number (ABN).
  2. Be operating in NSW on 1 June 2021.
  3. Have total annual Australian wages of $10 million or less on 1 July 2020.
  4. Had aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2020.
  5. Have business costs where no other government support is available.
  6. Experienced a decline in turnover of 30% or more due to the public health order over a minimum 2 week period from 26 June 2021 to 17 July 2021 in comparison to:
  • • The same period in 2019; or
  • • The same period in 2020; or
  • • 2 weeks immediately prior to any restrictions of 12 June to 25 June 2021 (inclusive).
  1. If the business employs staff, must maintain employee headcount from 13 July 2021 while receiving payments from this grant.
  2. If the business does not employ staff, your primary income source (50% or more of total income) must come from the business.

How Much

The amount of grant received depends on the decline in turnover:

  • • $7,500 for a decline of 30% or more;
  • • $10,500 for a decline of 50% or more; or
  • • $15,000 for a decline of 70% or more.

Application Process

Businesses can apply through the Service NSW website.

Documentation Required

As a minimum, applicants will require:

  • • MyServiceNSW account
  • • Proof of identity
  • • ABN / ACN
  • • Business bank account details
  • • Australian income tax return
  • • Details of your tax agent, BAS agent, or qualified accountant.

For detailed and complete information on the NSW  2021 COVID-19 Business Grant, please refer to the Service NSW website.

 

The team at EMspire Advisory are trusted, qualified Chartered Accountants, tax agents, and small business accountants. We work closely with our clients to achieve the best possible outcomes. So to find out more, please contact us!

Please note that this information is not specific and is general in nature and cannot be relied on as advice. Please contact us for advice specific to you and your circumstances. The legislation and eligibility criteria may change since the time of writing. Please refer to the Service NSW website for the most current information.

 

 

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