NSW Announces $10,000 to Small Businesses Hit by COVID-19

  • Chartered Accountants
  • Tax Agent 25955893
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Aim

To support thousands of small businesses across NSW to cope with Covid-19 shutdown.

The NSW Government will put $750 million into the Small Business Support Fund as the centrepiece of a third wave of support measures to keep small businesses afloat.

Benefit

Eligible small businesses across NSW will receive grants of up to $10,000 under a new assistance scheme.

Eligibility

To be eligible, businesses will need to:

  • Have between 1-19 employees and a turnover of more than $75,000;
  • A payroll below the NSW Government 2019-20 payroll tax threshold of $900,000;
  • Have an Australian Business Number as at 1 March 2020, be based in NSW and employ staff as at 1 March 2020;
  • Be highly impacted by the Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020 issued on 30 March 2020;
  • Use the funding for unavoidable business costs such as utilities, overheads, legal costs and financial advice;
  • Provide appropriate documentation upon application;

How to apply?

Applications for a small business grant of up to $10,000 will be available through Service NSW within a fortnight and remain open until 1 June 2020.

What do I need to do?

If you need assistance, please reach out to our friendly accountants on 1300 180 630 or if you would like us to give you a call, Book in your 30 minute consultation for $50 to get the answers you need today

Source: www.nsw.gov.au

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