An exciting day today as the NSW Covid-19 grant applications are now open! Don’t panic that the Service NSW website, where you lodge your claim, keeps falling over as the closing date to apply is 13th September. Just be patient, drink wine and try again tomorrow.
This is the second of four potential payments that are available, all of which are claimed by you via the Service NSW website. To summarise, as everyone is very confused, the possible payments are as follows:
- The Covid disaster weekly payment is for EMPLOYEES who have suffered a drop in hours. Employees claim this themselves,
- The one off Grant, for businesses with a turnover of $75k or more that have suffered at least a 30% drop – this is open for claims now (see below)
- The JobSaver weekly payment which opens 26th July for those with a turnover of $75k or more (including sole traders) that have suffered at least a 30% drop, and
- The Micro-Business JobSaver weekly payment which also opens 26th July for those with a turnover between $30k and $75k that have suffered at least a 30% drop
We now have more details as to how to claim the Grant (number 2 above) which you can read on this link. I have summarised the main points below for you.
To be eligible for the grant you must satisfy all of the following;
- Be running a business on 1 June 2021, and
- Have a turnover (as per business tax return) of more than $75k for the year ended 30 June 2020, and
- Have a drop in turnover of at least 30% (measured using the same method you use to calculate GST ie cash/accruals) over a minimum of 14 consecutive days between 26 June 2021 and 17 July 2021 when compared with the same dates in 2019, and
- Maintain the staff you have on 13th July, and
- Have business expenses required to run the business at least equal to the grant between 1 June 2021 and 17 July 2021 eg rent, utilities, staff costs, and
- If you are a sole trader you must not be also claiming the Covid disaster weekly payments
If your business is on the list of highly impacted industries you do not need a letter from your accountant confirming your drop in turnover. If your business is not on the list then you do need a letter.
If you satisfy all of the above you can apply via the Service NSW website. You need a business profile linked to your ABN – how to details here.
If you require assistance with the calculations, or an accountants letter please get in touch ASAP. Letters prepared for existing clients only and on a first come first served basis.
Lindsay 0413 952 180
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