Applications for NSW COVID-19 business grants are now open
Following on from last week’s announcements on support for businesses impacted by the recent NSW COVID-19 restrictions, businesses can now apply for a one off grant of between $7,500 and $15,000. 

The grants are available to businesses to cover business costs incurred from 1 June 2021 to 18 July 2021 (from 19 July JobSaver commences). The amount of the grant is based on the decline in turnover as a direct result of Public Health Orders:

The decline in turnover is calculated over a minimum two-week period from 26 June 2021 to 26 July 2021 when compared to the same period in 2019.  

In addition to satisfying the decline in turnover test, an eligible business must:
  • Have an ABN and have been operating in NSW as at 1 June 2021
  • Have an annual wage bill of $10m or less as at 1 July 2020
  • Have an aggregated turnover of between $75,000 and $50m for the year ended 30 June 2020
  • Have business costs for which no other government support is available
  • Maintain employee headcount as at 13 July 2021 for the period for which the grant payment is made

Your Prosperity team are on hand to advise you on your eligibility for a grant and to assist you with the grant application process. Contact your Prosperity adviser to discuss your case further. If you are not an existing Prosperity client please call 1300 795 515 and one of our team will be happy to have an initial conversation with you on your eligibility and the application process.    

We will keep you updated on other financial measures once details become available. Read our initial summary here.

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