Disaster Recovery Small Business Grant

Disaster Recovery Small Business Grant

Is your business affected by the storms and flooding the past few months? We are glad to advise that the NSW Government is providing a disaster recovery grant for small businesses and not-for-profit organisation that have been affected by storms and floods from 9 November 2021 to December 2021.

 

How much funds can you receive?

You can receive funds between $15,000 and $50,000 based on your quotes and tax invoices for clean-up or reinstatement costs.

 

What are the eligibility criteria?

You must be a small business or non-for-profit organisation that is in a defined disaster area and:

•   have suffered direct damage to business assets or equipment

•   be primarily responsible for meeting the costs you are claiming

•   be intending to re-establish your business within the same area

•   have held an ABN and engaged in carrying on the business at the time of the floods in the defined disaster area, or

•   be registered and have held the registration at the time of the eligible disaster with the Australian Charities and Not-for-profits Commission (ACNC) or an equivalent state regulatory body

Other circumstances which you may be eligible include if you are:

•   A sole trader – you must show that you derive most of your income from the small business immediately before the disaster or that the income would have come from the business again if not for the disaster.

•   Located outside the defined disaster area – you must provide evidence that the business operates on a part-time or regular basis within the defined disaster area, and plant or equipment your small business owns was in or damaged by the disaster in the area.

•   Operating multiple small businesses – you may apply for grant funding for each eligible separate business up to the maximum amount available.

 

How do you apply?

Like all the other government grants you can apply through your MyServiceNSW Account. Here, you must provide:

•   proof of identity

•   a valid ABN/ACN

•   evidence of non-profit status if available 

•   evidence of insurance details if available 

•   business banking details

For this grant specifically you will also need to provide a list of the direct damages with photographic evidence. This can be accompanied by quotes for replacements or services along with damage assessments or receipts. If you are looking to seek more than $15,000, invoices for completed work and evidence of payment will also need to be provided.

If you want to apply now click here. Applications for this grant close on the 18th of March 2022.

 

Q n A

Q: What happens if I am affected by new floods in January to March?

A: The NSW Government are currently working with the Federal government to expand the financial support for small businesses with the current events. We will provide an update once support is available.

Q: Can I submit more than one application?

A: If you require additional funding for eligible clean up or reinstatement costs, you can submit another application if the first application was under the threshold of $50,000.

Q: What are some examples of costs that can be covered?

A: Eligible costs can include equipment and materials for cleaning, removal or disposal of damaged stock and materials, repairs to premises or internal fittings etc.

Q: How do I know if I’m in a defined disaster area?

A: You can check whether your local government area is a defined disaster area in online. Click here to view the list.

 

Contact Us

If you want to know more on about this recovery payment or need help applying, feel free to contact our friendly team for support.

Source: Service NSW

 

About Wilson & Assoc

Wilson & Assoc Chartered Accountants provides taxation and business advisory services to individuals, investors and businesses wherever you are based. We provide specialist services to startups and health care providers.

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DISCLAIMER

Information provided on this website is general information only and should not be treated as professional advice.  You may not rely on the basis of currency or accuracy of the information. We disclaim liability to all persons or organisations for any loss or damage suffered as a result of such reliance.  Please ensure you contact us to discuss your particular circumstances and how the information provided applies to your situation.

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