Covid-19 Government support - Business, Sole Traders & Not for Profits 03 Aug 2021

Blog / Financial Planning

What: COVID-19 Business Grants
Amount: $7,500 - $15,000 one-off payment depending on decline in turnover
Eligibility:

  • A revenue decline of 30% or more
  • Annual turnover above $75,000
  • Payroll up to $10 million

What: JobSaver
Availability: NSW
Amount: $1,500 - $100,000 per week for businesses employing 40% of weekly NSW payroll, $1,000 for non-employing businesses
Eligibility:
  • A revenue decline of 30% or more
  • Turnover between $75,000 and $250 million

What: COVID-19 Micro Business Grants
Availability: NSW
Amount: $1,500 per fortnight
Eligibility:
  • Turnover between $30k and $75k
  • Revenue decline of 30% or more
  • Businesses that provide the primary income source for a person associated with the business.

What: Payroll tax deferrals
Availability: NSW
Amount: Deferral of 2020-21 annual reconciliation payment as well as the July and August Monthly payments until 7 October 2021
Eligibility:
  • Any NSW business liable for payroll tax.

What: Payroll tax deduction
Availability: NSW
Amount: 25% reduction on 2021 – 2022 payroll tax
Eligibility:
  • 30% decline in turnover
  • NSW businesses with grouped Australian wages up to $10 million

What: Gaming machine tax deferrals
Availability: NSW
Eligibility:
  • NSW clubs or hotels liable for gaming machine tax

Disclaimer and Warning
The information above is of a general nature only.  It should not be used as a source to make financial decisions.  It's also important to note that the legislation and figures related to this topic tend to change regularly and therefore the information above may not reflect the current status.  We recommend that if you are looking for advice on this matter, you should contact us.


Recent News Aged-Care Financial-Planning SMSF Special-Disability-Trusts Covid-19 Government support - Business, Sole Traders & Not for Profits
SOLOMON FORMAN SMSF SPECIALIST ADVISOR SMSF SPECIALIST AUDITOR Forman Financial Services SOLOMON FORMAN CERTIFIED FINANCIAL PLANNERĀ® Forman Financial Services
 
© Forman Financial Services 2014. Design & Developed by maxmoment interactive