State Government Business Support Fund Grants

State Government Business Support Fund Grants

Business Victoria – Business Support Fund
10 days left to apply

There are only 10 days left to apply for the Victorian Government launched the $500 million Business Support Fund as part of its $1.7 billion Economic Survival Package to help small businesses survive the impacts of coronavirus (COVID-19) and keep people in work.

Purpose of the fund

The fund provides eligible businesses with one-off grants of $10,000 through two streams.

  • Firstly, your business must have been in an industry that was subject to closure or highly impacted by the restricted activity directions issues for the Victorian Chief Health Officer. These industries that can apply under Stream one are listed here: https://bit.ly/3e9bHil. The Victorian Government will cross check your industry classification linked to your ABN.
  • Secondly, your business can apply if you are an eligible participant in the Federal Government JobKeeper payment scheme. This could be where most businesses that fit the eligibility criteria may be able to apply.

Eligibility

To be eligible, applicants must:

  • Employ people; and
  • Have a turnover of more than $75,000; and
  • Have payroll of less than $650,000; and
  • Hold an Australian Business Number (ABN) and have held that ABN at 16 March 2020 (the date the State of Emergency was declared in Victoria External link (opens in same window)over coronavirus); and
  • Have been engaged in carrying out the operation of the business in the Australian State of Victoria on 16 March 2020,

The grants were designed to support those businesses which the Victorian government have determined are more likely to employ people and were not able to access the refund of payroll tax available to those businesses with a payroll greater than $650,000.

We note that those businesses eligible for JobKeeper who do not employ staff, where they applied as eligible business participants, are not eligible for the grant.

Requirements of application

  • Applicants must certify in writing that they meet the eligibility criteria.
  • Applicants will be subject to audit by the Victorian Government or its representatives and will be required to produce evidence, used in supporting the Application and evidence as to the allocation and use of the grant, at the request of the Victorian Government for a period of four years after the grant has been approved.
  • If any information in the application is found to be false or misleading, or grants are not applied for the purposes stated in the terms of funding and application, the grant will be repayable on demand.

How the funding is to be used

Examples of what the grant funding could be used for include:

  • Meeting business costs, including utilities, salaries, rent
  • Seeking financial, legal or other advice to support business continuity planning
  • Developing the business through marketing and communications activities
  • Other supporting activities related to the operation of the business.

How to apply

Applications can be made via the following page https://sforce.co/2AOAQ3r

For those businesses that are applying through the Stream Two JobKeeper eligibility criteria, you will need to provide the following:

  • Your business’ ATO Receipt number for your JobKeeper application, and
  • a copy of your last BAS lodged. The best version of this document to use in this application is a copy downloaded from the business portal with the ATO. The document downloaded in this way will contain all the relevant details the Victorian Government need to assess your application such as the business’ TFN, ABN, lodgment receipt number, and legal name.

In order to apply each business will need to create its own login. We are not able to do this on your behalf.

For more information please refer to the Victorian Government Website: https://bit.ly/2A0WXDg

OTHER STATE GOVERNMENT GRANT MEASURES

Here is a list of other similar State Government Grants available by relevant state. Call us if you believe you may be eligible for one of these grants otherwise we will review eligibility with you when we review your tax planning before year end.

NSW – $10k Small Business Grant

Eligibility

To be eligible for this grant, you must:

  • be based in NSW
  • be a small business (see guidelines)
  • be registered with an ABN as at 1 March 2020
  • have an annual turnover of more than $75,000 (a Business Activity Statement must be provided as evidence)
  • Where a small business does not submit a BAS to the Australian Tax Office, and meets all other criteria, the small business should contact Service NSW to discuss further. In these cases, an income tax declaration may be accepted as evidence of an annual turnover of $75,000.
  • employ 1-19 full-time workers as at 1 March 2020.
  • be able to report a payroll below the NSW 2019-2020 payroll tax threshold of $900,000.
  • have been highly impacted by Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020 effective on 31 March 2020
  • have experienced at least 75% decline in turnover compared to the same two-week period in 2019, as a result of COVID-19 (for businesses that have been in operation for less than 12 months, refer to the guidelines)
  • have unavoidable business costs not otherwise the subject of other NSW and Commonwealth Government financial assistance measures. 

Businesses not in the highly impacted industries

If your business is not in one of the highly impacted industries (as listed in the guidelines) but you can demonstrate a significant disruption to your business resulting in a 75% reduction in turnover as a result of the Public Health Order 2020, you may be eligible for this grant. You will require a letter from your accountant confirming you meet a number of criteria (refer to the guidelines).

If you are a sole trader and you do not employ staff, you are not eligible for this assistance.

https://www.service.nsw.gov.au/transaction/apply-small-business-covid-19-support-grant

QLD – $10k Micro & Small Business Grant

Eligibility

To be eligible, the business must:

  • have been subject to closure or otherwise highly impacted by current shutdown restrictions announced by Queensland’s Chief Health Officer on 23 March 2020
  • demonstrate that business revenue has been significantly impacted since 23 March 2020 over a minimum 1-month period due to the onset and management of COVID-19
  • employ staff and have fewer than 20 employees at the time of applying for the grant
  • have a valid Australian Business Number (ABN) active as at 23 March 2020
  • be registered for GST
  • have a Queensland headquarters
  • have an annual turnover over $75,000 for the last financial year
  • have a payroll of less than $1.3 million
  • not be insolvent or have owners/directors that are an undischarged bankrupt.

Only 1 application will be accepted from an individual ABN or a financial beneficiary of a business.

Successful applicants cannot reapply for funding under this grant program.

https://www.business.qld.gov.au/starting-business/advice-support/grants/adaption

WA – $17.5k One-Off Grant included as part of Payroll Tax Measures

The Western Australian Government has announced measures to support small business during the coronavirus (COVID-19) pandemic.

Payroll grant payments (updated 30 March)

Grants of $17,500 will automatically be paid by cheque to eligible businesses from July, however you should log in to Revenue Online to ensure your postal address is up to date. There may be delays for those whose tax status changed in 2018-19 or liability for payroll tax changed in 2018-19 or 2019-20.

The small business relief includes:

  • $17,500 grants for small businesses with a payroll between $1 million and $4 million.
  • The $1 million payroll tax threshold (announced in October 2019) will be brought forward by six months to 1 July 2020.
  • The WA Government will waive rental payments for small businesses and not-for-profit groups in State Government-owned buildings for six months.

As well as the following measures announced on 31 March 2020:

  • One-off $2,500 credit on electricity bills for small businesses that consume less than 50MWh per annum. For more information read the statements on the Synergyand Horizon Power
  • Power and water disconnections will not occur and interest will not be charged on deferred payments until 30 September for small businesses facing financial difficulty due to COVID-19. Please note: This applies to Synergyand Horizon Power
  • Payroll tax will be waived for four months for businesses with annual wages under $7.5 million (NB: this replaces the previous payroll deferral measure which was announced).
  • Affected businesses can apply for interest free payment arrangements and for late payment penalties to be waved for a range of taxes and duties, including payroll tax, transfer duty, landholder duty, vehicle licence duty or land tax.
  • A range of business licence fees have been waived, including liquor licence renewal fees for 2020, which will be waived and refunds given to businesses that have already paid.

https://www.smallbusiness.wa.gov.au/blog/wa-coronavirus-relief-package

Other

General information can be found on COVID-19 State Gov reliefs for the other states here:

https://www.business.gov.au/Risk-management/Emergency-management/Coronavirus-information-and-support-for-business/Coronavirus-state-and-territory-information-and-assistance

Next steps / Actions

If you believe you may be able to apply for these grants and need some further assistance, please contact our office.

One of the team can produce the information you require to make apply for one of these grants.

Please feel free to forward our email onto anyone who might appreciate this information.  Stay tuned for further develops as they occur.