21 Jul STATE GOVERNMENT GRANT MEASURES
Business support packages – expansion of grants to support business through renewed restrictions
Each state government around Australia has announced a range of support packages to support businesses through the prolonged economic shutdowns caused by COVID-19.
An outline for the major states is listed below. Each State Government website has a grant finder which can also help you navigate the further grants available.
Following the reinstatement of the Stage 3 restrictions announced on 8 July the Victorian Government has announced further support for those businesses within the post codes of Metropolitan Melbourne and Mitchell Shires.
An outline of the measures are as follows:
- The expanded Business Support Fund providing more than 80,000 eligible businesses with a new $5,000 grant to support them through the renewed restrictions. This grant was previously made available to the 12 postcodes linked to outbreaks. It will now apply to all areas under Stage 3 restrictions.
- A $30 million dedicated fund for Victoria’s night time economy to support the hardest hit businesses in hospitality.
- $26 million in mental health support will ensure Victorians dealing with the compounding challenges of running a small business can get the support they need as they navigate their way through the crisis.
- A $10 million business mentoring program, pairing small business owners with experienced professionals who can help them navigate their way through the crisis.
- A $40 million capped fund for regional tourism businesses to cover the costs of refunds.
- A $20 million fund to support small businesses in Melbourne’s CBD that are faced with a large and sustained shock to their trading environments.
Businesses will also benefit from an extended and expanded payroll tax deferral. Eligible businesses with payrolls up to $10 million can defer their liabilities for the first half of the 2020/21 financial year.
Each measure has eligibility criteria. Further details and applications for each measure can be found on the Business Victoria website. Grant applications close on 19 August 2020.
New South Wales $3,000 grants for small business
This grant helps small businesses get back to business by meeting the costs of safely reopening or upscaling operations, for example:
- making fit-out changes
- providing staff training and counselling
- covering advertising and communications expenses
- purchasing cleaning products or services.
This grant can only be used for purchases of eligible expenses made from 1 July 2020, where no other government support is available.
The list of businesses eligible for the grant is limited to those in highly impacted industries. A list of those industries can be found by following the link below.
Eligibility criteria for the grant can be found on the NSW Government website. Businesses can apply online at Service NSW before 11:59pm AEST on Sunday, 16 August 2020.
The Queensland Government have some grants still open for a range of industries in a range of locations in Queensland.
The business locator on the Business Queensland website can help you find what grants you may be able to apply for.
WA – $17.5k One-Off Grant included as part of Payroll Tax Measures
The Western Australian Government measures have not changed since our last grant circular.
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:
- From 2 June, businesses that are eligible for JobKeeper Payment and have more than three major water fixtures (for example toilet, urinal or pan washer) can apply to Water Corporationto have their wastewater service charges waived for the fourth to 200th fixture, for the period 1 May – 21 August 31 2020.
- One-off $2,500 credit on electricity bills will be applied to 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 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.
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.