Following on from our previous article on Monday, we are delighted to see that the NSW Government have released a support package for businesses adversley impacted by the recent COVID-19 lockdowns.
This article will take you through the support available. But if you would like to discuss your own circumstances please call our office.
If your business has been adversely impacted by the recent lockdown in NSW, support is available but there are limitations.
The NSW Government has announced new grants of up to $10,000 for businesses adversely impacted by the recent COVID-19 lockdowns. Eligibility for the grant is streamed into general business, and hospitality and tourism. The full details of the grant and the eligibility criteria have not been released as yet but here is what we know so far:
The value of the grant is determined by the impact of the lockdown on your turnover. Your business will need to prove a decline in turnover across a minimum 2 week period after the commencement of the major restrictions.
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For some clients, particularly those who have been unable to trade at all during lockdown, proving the decline in turnover should be reasonably simple. For others, we will need to work with you closely once the parameters for the decline in turnover test are known, to determine if you can access the grant.
The grant is limited to businesses (including sole traders) with:
The grant is limited to tourism or hospitality businesses with:
Dine & Discover vouchers can now be used for takeaway from eligible and registered Dine businesses during the restriction period but you will need to deliver to the customer’s home or have them pick up the order and check in with a QR code – vouchers cannot be redeemed for takeaway using third party delivery platforms.
The expiry of Dine & Discover vouchers has also been extended until 31 August 2021.
You can apply to defer:
For those that apply to defer, State Revenue will provide a repayment program on a case-by-case basis.
The full eligibility details are not available as yet and applications have not opened for the grants.
When applications do open, it will be through the Services NSW website.
The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.