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.