NSW State Govt to provide more financial assistance to business owners.
The New South Wales State Government has offered a $10,000 grant to support small businesses in NSW. To be eligible your business has to have between 1 & 19 employees with a turnover of more than $75,000 a year. Your payroll has to be under $900,000, you must have an ABN registered before the 1st of March 2020 and also have employees before that day.
The grant is geared for those who’ve been most impacted by the public health order that was issued on the 30th of March 2020. The use of the funds is to help cover overheads, utilities, legal costs and financial advice.
You will need to provide some supporting documents, upon application. The eligible industries include retail trade, a combination of food services, rental, hiring and real estate services, administrative and support services, and arts & recreation services.
The application form will be available on the NSW services website from the 17th of April 2020. The link below is for the NSW Services website with all related information in regards to financial assistance for small businesses in New South Wales.
https://www.service.nsw.gov.au/campaign/covid-19-help-small-businesses/grants-loans-and-financial-assistance?fbclid=IwAR196EXaNd6bIAr9XApCF0Ygn5gQ1BayUG3KHe2Ew8tnx3U0ECKYr7B2uDU.
The Federal Government has also released some further information in regards to rental relief for commercial tenants. The current proposal is that eligibility for rental assistance will be based on the same criteria’s as the Jobkeeper program. This has not been finalised and is still a work in progress. We are hoping to here further next week, and will share the information with you as soon as it has been confirmed.
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