New eligibility rule for the COVID Grant. You could be eligible

How much

• $7,500 for business with 30% decline or more

• $10,500 for business with 50% decline or more

• $15,000 for business with 70% decline or more

Who is eligible

• An ABN with active business as of 1 June 2021

• Turnover between $75,000 to $100 million for the 2020 year.

• Payroll under $10 million

• Revenue decline of 30% or more for a 2-week period between 26 June 2021 and 26 July 2021

Comparison base

You can choose 1 of the 3 bases below, whichever results in the highest decline:

1. The same 2-weeks’ period from 26/6/2019 to 26/07/2019.

2. The same 2-weeks’ period from 26/6/2020 to 26/07/2020

3. The same 2-weeks’ period from 26/5/2021 to 26/06/2021

Apply for the Service NSW 2021 COVID-19 Business Grant

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.

If we can help in any way, we’d like to hear from you.

Disclcaimer: The information provided within this article is general information only. None of the comments in these notes are intended to be advice, whether legal, financial product or professional. You should obtain specific advice regarding your particular circumstances from a tax or legal professional.