NSW Treasurer, Dominic Perrottet has announced a new recovery grant of up to $3,000 for Small Businesses and Not-For-Profit organisations to assist with the relaunching of operations. On 1 July 2020, applications for the Small Business Recovery Grant opened up to eligible ABN holders.
The Small Business Recovery Grant can be used to cover marketing and advertising expenses, make fit-out changes and train staff in how to work safely under the current restrictions. To be eligible for the grant, the below criteria is considered:
Australian Business Number as at 1 March 2020 registered in NSW;
Have total Australian wages below the NSW Government 2019-20 payroll tax threshold of $900,000 as at 1 March 2020;
Have fewer than 20 Full Time Equivalent staff (including non-employing businesses) as at 1 March 2020;
Have an annual turnover of more than $75,000 as at 1 March 2020;
Have experienced a decline in turnover of at least 30 per cent from March to July 2020 compared to the equivalent period (of at least two weeks) in 2019;
Are in a highly impacted industry as at 1 March 2020. These industries were impacted by the COVID-19 Restrictions on Gathering and Movement Order 2020;
Have costs from 1 July 2020 associated with safely re-opening or scaling up their business.
For a full list of eligible impacted industries, please click on the below link: https://www.service.nsw.gov.au/small-business-covid-19-support-grant-guidelines#attachment-a-list-of-highly-impacted-industries Applications for The Small Business Recovery Grant will be open from 1 July 2020 - 16 August 2020.
To find out more about the Small Business Recovery Grant or if you meet the above criteria, please do not hesitate to contact our office over the phone on 02 4340 2415 or via email at office@beda.com.au
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