COVID-19 Business Support Grant

 

22 July 2021

In response to the current stay at home order in South Australia, the State Government has announced a $100m emergency payment scheme to provide relief to businesses affected by the 7 day lockdown.

This is in the form of an emergency cash grant of $3,000 for employing businesses or $1,000 for those businesses who do not employ staff.  To be eligible for the grant a business needs to meet all of the following criteria at the start of the restriction period of 12:01am Tuesday 20 July 2021:

  • Be located within South Australia.
  • Have an annual turnover of $75,000 or more in 2020-21 or 2019-20, and be registered for GST.
  • Have a valid and active ABN (Australian Business Number).
  • Must employ people in South Australia.
  • Have an Australia-wide payroll of less than $10 million in the 2019-20 financial year.
  • Experienced at least a 30 per cent reduction in turnover in the week of Tuesday 20 July 2021 – Monday 26 July 2021 (inclusive) (compared to the prior week) due to restricted trading conditions.

To be eligible for the $1,000 grant non-employing businesses will be subject to the eligibility criteria outlined above, excluding the requirement to employ people.

For further information including information on substantiation requirements in relation to proving the decline in turnover please click here.

To register your interest click here.

Further grant guidelines and the application portal will be available shortly with applications expected to open within the next two weeks.  Applications for the grant will close on 30 September 2021.

Please note that the government will consider further support should the lockdown be extended beyond seven days.

Individual support – COVID-19 Disaster Payment

The Commonwealth Government has also extended its national support scheme to individuals (including employees) who have lost income during the lockdown. The SA government has extended access to the scheme to all eligible South Australians and not just those living in Commonwealth declared hotspots.

Should you not meet the turnover criteria to receive the business support grant, there may be an opportunity to apply for the COVID-19 Disaster payment instead if you can pass the general eligibility rules.

Applications for this payment will not open until 28 July 2021.

For more information click here.

For those in other states affected by lockdowns, we will be in contact with relief potentially provided to you and your businesses.

The team at i2 Advisory will be working from home during the lockdown and will therefore be available to support you during these times. Your advisor can be contacted by their email or mobile phone.

Let’s stay positive and look after each other.