Get the NSW COVID-19 support payments you need.
NSW Covid-19 Business Support
Times are tough. Lockdown starts to bite. The first couple of weeks were ok – we all thought it would be over quickly. But now things are really turning south. You need help – fast. The good news is that there is money to help you. Not much, but hopefully enough.
There are four support payments on the table. Business Grant – JobSaver – Micro-Business Grant – and – Disaster payment.
Setting the scene
It is an either-or proposition. You have the Business Grant and JobSaver on one side if your business sales are over $75,000.
And then you have the Micro-Business Grant on the other side if your business sales are between $30,000 and $75,000.
The disaster payment is completely separate from all this and has nothing to do with your business. The disaster payment goes to you as an individual employee who lost work hours.
So if you are an employee of your company, then you might be able to double-dip. Your business might get the business grant and JobSaver while you as an employee might be able to qualify for the disaster payment.
If you are a sole trader, unfortunately, there is no double-dipping since it is all just you. So you go for either or.
NSW 2021 COVID-19 Business Grant
Covers the first three weeks of the lockdown from 26 June to 17 July 2021. It is a three-tiered payment of $7,500, $10,500 or $15,000 depending on whether your turnover dropped by 30%, 50% or 70%. Your annual turnover must be $75,000 or more. Applications close on 13 September 2021.
NSW 2021 COVID-19 JobSaver
Starts from week 4 of the lockdown, so from 18 July to the end whenever that will be. JobSaver pays at least $1,500 per week or 40% of your weekly payroll based on your March 2021 BAS if employing or $1,000 per week if non-employing. You must have had a 30% drop in sales and your annual sales must exceed $75,000. Applications close 18 October 2021.
NSW 2021 COVID-19 Micro-business Grant
Starts from week 1 to end of the lockdown and pays $1,500 per fortnight. You qualify if you had a 30% drop in sales and your annual sales must be between $30k to $75k. Applications close 18 October 2021.
Disaster payments have nothing to do with your business. They go to you as an individual employee. Payments started low but are now $450 and $750 if you lost less or more than 20 hours of work respectively. You apply through Centrelink.
Does that make sense? Please call me if you are not sure how to go from here.
Disclaimer: numba does not provide specific financial or tax advice in this article. All information on this website is of a general nature only. It might no longer be up to date or correct. You should contact us directly or seek other accredited tax advice when considering whether the information is suitable to your circumstances.
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