Latest COVID-19 Grants, Loans & Financial Assistance Posted on August 5, 2021
COVID-19 business grants comparison
Use the Service NSW quick reference guide to compare the grants and work out which one suits your situation.
2021 COVID-19 Business Grant
A one-off payment to help businesses, sole traders or not-for-profit organisations impacted by the current Greater Sydney COVID-19 restrictions.
Grants between $7,500 and $15,000 are available to eligible businesses depending on the decline in turnover experienced during the restrictions.
Three different grant amounts will be available depending on the decline in turnover experienced over a minimum 2-week period from 26 June 2021 to 17 July 2021, compared to the same period in 2019:
- $7,500 for a decline of 30% or more
- $10,500 for a decline of 50% or more
- $15,000 for a decline of 70% or more.
Businesses and not-for-profit organisations on the NSW border with Victoria impacted by the stay-at-home orders that began on 27 May 2021 may use a different comparison period to demonstrate a decline in turnover. For each of the 3 grant amounts, these businesses must demonstrate a decline in turnover over a minimum 2-week period from 27 May 2021 to 17 July 2021.
To be eligible for the grant, you must:
- have an active Australian Business Number (ABN)
- demonstrate your business was operating in NSW as at 1 June 2021
- have had total annual Australian wages of $10 million or less as at 1 July 2020
- have had an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2020
- have business costs for which there is no other government support available
- maintain your employee headcount as at 13 July 2021.
COVID-19 Micro Business Grant
A fortnightly payment for businesses with a turnover between $30,000 and $75,000.
Applications are open.
- $1,500 per fortnight
- a turnover between $30,000 and $75,000
- a revenue decline of 30% or more
- businesses that provide the primary income source for a person associated with the business
Fortnightly payments to help maintain employee headcount (as at 13 July 2021) and provide cashflow support to businesses.
Applications opened 26 July 2021.
- Employing businesses: 40% of weekly payroll, with a minimum payment of $1,500 per week and a maximum payment of $100,000 per week
- Non-employing business: $1,000 per week
- A revenue decline of 30% or more
- Turnover between $75,000 and $250 million
COVID Disaster Payment
For people without any Centrelink payments.
$375 or $600 per week for people who have lost hours. These amounts will increase to $450 and $750 from the week commencing 2 August.
- you’re an Australian Resident or hold an eligible working visa
- you’re 17 years or older
- you’re not getting an income support payment, ABSTUDY Living Allowance, Dad and Partner Pay or Parental Leave Pay
- you’re not getting the Pandemic Leave Disaster Payment, a state or territory pandemic payment or a state small business payment for the same period
- you live in, work from or have visited a Commonwealth-declared COVID-19 hotspot
- you live in, work from or have visited a location subject to a state or territory restricted movement order
- you had paid employment and because you were in the COVID-19 hotspot or are subject to restricted movement, you can’t attend work on or after day 8 of the lockdown
- you’ve lost income on or after day 8 of the lockdown and don’t have any appropriate paid leave entitlements
For people with Centrelink Payments
$200 per week effective from the week commencing 2 August.
Eligibility is the same as above, except that the claimant is receiving an income support payment, ABSTUDY Living Allowance, Dad and Partner Pay or Parental Leave Pay.
State Fee Waivers and Tax Assistance
Payroll tax deferrals
Businesses can opt in to defer payments on the 2020-21 annual reconciliation return and wages paid in July and August. Interest-free repayment plans for up to 12 months will be available.
- deferral of 2020-21 reconcilliation (due 28 July) and payments due on 7 August and 7 September until 7 October 2022.
- Any business paying payroll tax.
Payroll tax concessions
Concessions to help reduce overheads for eligible businesses with a 30% decline in turnover.
- 25% reduction in 2020-21 payroll tax where there is a 30% decline in turnover.
- a revenue decline of 30%
- for businesses with Australian wages up to $10 million
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