Below is a summary of the financial support available to businesses experiencing a decline in turnover due to the impact of the current Covid-19 outbreak.
2021 Covid-19 Business Grant
On July 19, the government’s 2021 Covid-19 Business Grant became available to businesses who are experiencing a decline in turnover due to the lockdowns in Greater Sydney and restrictions in regional NSW. Eligible businesses are entitled to a lump sum payment calculated based on their percentage of decline in turnover, as outlined below.
- $7500 for businesses who have had a decline of 30% or more due to public health orders
- $10,500 for businesses with a decline of 50% or more due to public health orders
- $15,000 for businesses who have experienced a decline of 70% or more due to the public health orders (paid in two separate sums)
The decline in turnover test covers a minimum 2 week period from 26 June 2021 to 17 July 2021, compared to the same period in June or July 2019.
To obtain further information and apply for this grant online, please visit https://www.service.nsw.gov.au/transaction/2021-covid-19-business-grant
This payment will see eligible businesses receive fortnightly payments of up to 40% of their weekly payroll, provided they have experienced a decline in turnover of 30% or more. Businesses will also need to maintain their employee headcount as at 13 July 2021. The maximum payment for Jobsaver is $10,000 per week or $1000 per week for sole traders.
Applications for Jobsaver will open in late July.
Covid-19 Micro Business Support Grant
Businesses with a turnover between $30,000 and $75,000 can apply for fortnightly payments of $1500 for the duration of restrictions. Eligible businesses will need to have experienced a decline in revenue of 30% or more, and must have a person associated with the businesses reliant on the business as their primary income source.
Applications for the Micro Business Support Grant will open in late July.
If you would like any additional information on the grants above for SA, Vic or NSW please don’t hesitate to contact us.Back to News Page