Have you been affected by the recent storms and floods? Here is a list of financial assistance provided by the NSW Government that you may be eligible for.
Small Business Recovery Grants
What is it
The Small Business Recovery Grant is to assist small businesses and not for profit organisation with the costs incurred for clean-up services, reinstatement of business assets or equipment and other direct damages caused by the March floods.
How much
You can receive funds from up to $50,000 dependent on the quotes, tax invoices and receipts that you provide.
Eligibility
To be eligible you must:
• Have suffered direct damages to your business property, equipment, or stocktake
• Be primarily responsible for meeting the cost you are claiming
• Be continuing your business within the same area
• Have a registration including an Australian Business Number (ABN) if you are a small business or a registration with the Australian Charities and Not-for-profits Commission (ACNC), if you are a not-for-profit organisation.
For more details on eligibility and requirements please read our article here.
Apply now through your MyServiceNSW Account here.
Disaster Recovery Payment
What is it
The Disaster Recovery Payment is a lump sum payment to help people affected by the NSW floods starting from February 2022.
How much
Each adult, you can receive $1,000 and each child under 16 can receive $400.
Additional payments are provided for heavily impacted LGA’s including Clarence Valley, Lismore, and Richmond Valley.
Eligibility
To determine your eligibility, you will need to:
• Be an Australian resident or hold eligible visa
• Be in an affected Local Government Area (LGA)
• Have suffered major damages to your home, were seriously injured or have an immediate family member who died or is missing
How to apply
To apply you will need to link Centrelink to your myGov account. Applications close on the 3rd September 2022.
Click here to apply now.
Disaster Recovery Allowance
What is it
The Disaster Recovery Allowance is a short-term allowance provided for individuals whose income has been reduced due to the recent floods and storms
How much
The allowance for each person will vary and you will receive the allowance for up to 13 weeks.
Eligibility
To be eligible you must:
• Be 16 years of age or older
• Be an Australian citizen or hold an eligible visa
• Have lived, earned or received income in an area that has been highly affected by the floods
• Have experienced a loss of income, earning less than the average weekly income of $1,737 due to the floods
What you need to apply
• A myGov account that is linked with Centrelink
• Evidence of loss of income
• For individuals it can include payslips, bank statements or a letter from your employer
• For farmers or small business it can include income tax returns, profit and loss statements or bank statements
Applications close on the 3rd September 2022. Click here to apply now.
Other financial assistances that you may be eligible include:
Special Disaster Grant – Primary producers can receive up to $75,000
Disaster Relief Loans – Concessional loans of up to $130,000
Contact Us
If you have been affected by the March floods and need help applying for financial assistance or need further advice, feel free to contact our friendly team for support.
Source: Service NSW
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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.
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