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Home Blog NSW COVID 19 Business Support Packages

NSW COVID Business Support Packages 2021
By Peter Vickers Business Group | NSW COVID 19 Business Support Packages 2021, Accounting |

NSW business Covid-19 Support Package

The NSW Government has announced a new grants package to assist small business affected by the current Covid-19 restrictions.

Eligible businesses receiving either the Small Business Grant or the Hospitality and Tourism Grant can receive: 

  • $10,000 for a decline in turnover of 70%, or more
  • $7000 for a decline in turnover of 50%, or more
  • $5000 for a decline in turnover of 30%, or more.

Eligibility criteria for small businesses and not-for-profits:

Small businesses and not-for-profits will be eligible for the 2021 Small Business COVID-19 Support Grant if they:

  • have fewer than 20 FTE employees (including non-employing businesses)
  • have an Australian Business Number (ABN) registered in NSW or can demonstrate they are physically located and primarily operating in NSW. Only one grant is available for a single ABN
  • have total Australian annual wages below the NSW Government 2020-2021 payroll tax threshold of $1,200,000 as at 1 July 2020
  • have an annual turnover of more than $75,000 as at 1 June 2021
  • have not applied for, or received, the Hospitality and Tourism COVID-19 Support Grant
  • have business costs for which there is no other government support available.

What can the grants be used for

Grant funds can be used for business expenses for which no other government support is available, for example:  

  • meeting business costs, including utilities, wages and rent  
  • financial, legal or other advice to support business continuity planning  
  • marketing and communications activities to develop the business 
  • the cost of perishable goods that can no longer be used
  • other activities to support the operation of the business. 

How to apply

Businesses will need to be able to show a drop in turnover over a minimum two-week period after lockdown commenced, compared to the equivalent period in June/July 2019.

If a business wasn’t operating in June/July 2019 it may still be possible to qualify, we recommend you call Service NSW on 13 77 88 for assistance specific to your situation.

Applications will be made through the Service NSW website. We expect this to become available in the second half of July.

Please get in touch if you have any questions on PVBG Lindfield (02) 9496 22300 or PVBG Windsor (02) 4577 4455 or click on the button below.

Above information referenced from Revenue NSW

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