NSW Small Business Support Grants

On Tuesday 29th June 2021, the Berejiklian government announced small business grants to assist cash flow for those businesses who have been effected by the latest COVID-19 lockdown restrictions across NSW.

The grant has been split into 3 different payments which are based on the decline in turnover percentage experienced.

• $10,000 for a 70% decline,

• $7,000 for a 50% or

• $5,000 for a 30% decline.

Also announced were changes to the Dine & Discover Vouchers. This scheme has been extended until 31st August 2021 and can now be applied towards take away orders directly delivered to peoples homes from eligible businesses.

The full criteria of the grant payments has not yet been released, but listed below is what we know so far.

The grants are split into two streams:

Small Business COVID-19 Support Grant

• Available to small businesses and sole-traders with a turnover of more than $75,000 per annum and must be below the NSW payroll tax threshold of $1.2million as at 1 July 2020.

• Businesses must have fewer than 20 full-time equivalent employees.

• ABN must be registered in NSW or be able to demonstrate that the businesses is located and predominantly operates in NSW.

• Business must be able to demonstrate the decline in turnover for a consecutive 2 week period after the major restrictions commenced on 26th June 2021.

Hospitality and Tourism COVID-19 Support Grant

• Available to hospitality or tourism businesses with an annual turnover of more than $75,000 per annum and must have an annual Australian wages bill of below $10million as at 1 July 2020.

• ABN must be registered in NSW or be able to demonstrate that the businesses is located and predominantly operates in NSW.

• Business must be able to demonstrate the decline in turnover for a consecutive 2 week period after the major restrictions commenced on 26th June 2021.

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.

Businesses who can demonstrate decline in turnover of more than 30% during the required period will be able to apply for the grant via Service NSW later in July.

Full criteria and eligibility requirements to be released on the Service NSW website in coming days.