A new Covid-19 Business Support Grant has been announced by the South Australian State Government to assist small and medium businesses that suffer a significant loss of income as a result of the Covid-19 health restrictions.
Eligible employing businesses can apply for a $3,000 cash grant, whilst a $1,000 cash grant is on offer to eligible non-employing businesses.
To be eligible for the one-off $3,000 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 financial years, and be registered for GST;
- Employ people in South Australia;
- Have an Australia-wide payroll of less than $10 million in the 2019-20 financial year;
- Have a valid and active Australian Business Number (ABN); and
- Have experienced at least a 30 per cent reduction in turnover in the week of Tuesday 20 July 2021 to Monday 26 July 2021 (inclusive) compared to the week prior, 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.
Businesses will be required to declare they have experienced the loss or reduction in turnover due to restricted trading conditions and will need to retain supporting information demonstrating such loss or reduction for a period of 12 months.
Applications for a Business Support Grant will close at 11:59pm on 30 September 2021.
To register your interest for the Business Support Grant and receive notification when applications are open, please visit the SA Treasury website to register.
If you have any questions, please contact 360Private for more information or for assistance in determining your eligibility to register.