Mount Gambier and South East South Australian businesses impacted by the State’s latest COVID-related lockdown could be eligible for up to $3000 in cash, under a new support program announced today.
The South Australian Government today announced it would be providing:
- A $3000 cash payment to small and medium businesses who can meet certain criteria demonstrating how they’ve been adversely impacted by the latest lockdown
- A $1000 cash payment to sole traders impacted by the latest lockdown. These businesses must also meet eligibility criteria relating to the drop in business they suffer due to the new restrictions.
This Small Business Grant program is due to open in two weeks’ time, according to the State Government announcement today. At this stage, businesses will have until the end of September to make their claim for the cash payment.
Eligibility criteria outlined today indicates the scheme has been inspired by similar programs in other states over the past 12 months.
To be eligible for the one-off $3,000 emergency cash grant, a business must, as at 12:01am Tuesday 20 July 2021:
- Be located within South Australia
- Have an annual turnover of $75,000 or more in 2020-21 or 2019-20, and be registered for GST
- Employ people in South Australia
- Have an Australia-wide payroll of less than $10 million in 2019-20
- Have a valid Australian Business Number (ABN)
- Experienced at least a 30 per cent reduction (compared to the week prior) in turnover due to the restricted trading conditions
To be eligible for the one-off $1,000 emergency cash grant, a non-employing business must meet the criteria listed above excluding the requirement to employ people.
Applications will need to be made via the SA Treasury website – although businesses are not yet able to submit these applications. All indications are that the applications should be open by early August.
South Australian Microbusinesses with a turnover below $75k, and who are not registered for GST have been directed to apply for the COVID-19 Disaster Payment, which is distributed via the Federal Government’s myGov system. For more information on this program, click here.
If you need help to determine whether your business is eligible, Sinclair Wilson’s expert Business Advisory Team is here to help.
