COVID-19 Relief packages

The Premier and Treasurer announced a special COVID-19 relief package for small businesses impacted by the latest lockdown.

The package includes:

  • grants of $5,000 and $10,000
  • payroll tax deferrals for all employers; and
  • extension of the Dine and Discover program.

 

Sole Traders and Not-for-Profit are eligible to the package, and the amount of the grant will depend on how much was lost due the stay-at-home orders.

 

Two streams have been identified:

  • small businesses; and
  • hospitality and tourism.

 

Grant will be available for SMEs, Sole Trader and Not-for-Profits that have, as at 1 July:

  • a turnover of more than $75,000 but below the payroll tax threshold of $1,200,000;
  • less than 20 full-time employees; and
  • an Accountant Statement that confirms a loss in revenue for the time period compared to the same time in July 2020.

 

For the Hospitality and Tourism industry, eligible businesses will need to have, as at 1 July:

  • a turnover of more than $75,000 and an annual wages bill of below $10 million; and
  • an Accountant Statement that confirms a loss in revenue for the time period compared to the same time in July 2020.

 

For the eligible businesses there will be:

  • a $10,000 grant available for businesses that have lost 70% of their revenue:
  • a $7,000 grant for a 50% loss; and
  • $5,000 for a 30% loss.

Source