October Update on COVID Support & subsidies

Reconfirm JobSaver payment eligibility

Eligible businesses are now able to continue receiving JobSaver payments if they successfully reconfirm their eligibility each fortnight.

How much

Up to $1,500 to $100,000 per week depending on your weekly payroll.

Eligibility

     •  Experienced a continued decline in turnover of at least 30% or more within your chosen comparison period.

     •  Maintained employee headcount.

Comparisons periods

Option 1: Same year, corresponding fortnight.

     •  Use the same comparison year applied for your first application with a new corresponding fortnight.

Option 2: Same year, same comparison fortnight.

     •  Use the same comparison fortnight used for your first application with any other 2 weeks in 2021.

Option 3: 12 June to 25 June 2021 as comparison period.

     •  Use the 12 June to 25 June 2021 as a fixed date and compare with any other fortnight after those dates.

To confirm your eligibility, click on the link here.

Small business fees and charges rebate

A rebate provided if you are a sole trader, small business owners or a not-for-profit organisation.

How much

A one-off rebate of $1,500 for eligible fees and charges.

Eligibility

     •  Total Australian wages below threshold of $1.2 million

     •  Must have a registered ABN or business premises located and operating in NSW

Applications available until 30 June 2022. To apply click here.

Small and medium enterprise (SME) loan guarantee scheme

The government is providing additional support to help SMEs through the impacts caused by COVID-19.

How much

Businesses can apply for 10-year loans of up to $5 million.

What else is included

The option of a 24-month repayment holiday.

Interest rates capped at around 7.5%

Eligibility

     •  Have previously received JobKeeper payment between 4 January 2021-28 March 2021.

     •  Affected by the floods in eligible LGA’s in March 2021.

     •  Highly affected by COVID-19.

How to apply

     •  Approach participating lenders such as ANZ, Commbank, National Australia Bank, Westpac etc.

Loans available until 30 December 2021. For more information click here.

More government support services

Below is a list of the Government support available at the date of this article. Click on the topic of your interest to view the details.

     •   COVID-19 business grants and payments comparison

     •   JobSaver payment

     •   COVID-19 micro-business grant

     •   COVID-19 business grant

     •   Accommodation support grant

     •   Small business fees and charges rebate

     •   Stay & Rediscover Accommodation Voucher scheme

     •   Dine & Discover NSW Voucher scheme

     •   Sydney CBD Friday voucher program

     •   Jobs Plus program

     •   Export assistance grant

     •   Small and medium enterprise (SME) guarantee scheme

     •   Financial institutions

     •   Assistance for Indigenous businesses

Source: Service NSW