Please find below a summary of various Qld & NSW COVID support measures announced as at 10 August 2021. The below list is not exhaustive. We encourage you to monitor State & Federal Government websites and media releases for changes and/or new measures. Contact us at Accorti Accountants + Advisors for more information
Outlined below is a summary of government support to help Queensland businesses during the COVID-19 lockdown announced on 31 July 2021.
Measure | Summary | Resources / Link |
COVID-19 Disaster Payment | As South East Queensland has been declared a Commonwealth hotspot, eligible Queensland workers who are impacted by the lockdown can apply for the Commonwealth Government’s COVID-19 Disaster payment of:
There is no liquid assets test to receive these payments. Applications can be made from the Services Australia website shortly. | |
2021 COVID-19 Business Support Grant | The Queensland Government has announced 2021 COVID-19 Business Support Grants of $5,000 for small and medium businesses affected by the COVID-19 lockdown in South East Queensland and lockdowns in other states.
Grants are also available for eligible large businesses in the hospitality and tourism sector operating in the 11 local government areas in the lockdown. Applications open in mid-August. The Business Queensland website will be updated shortly with further information on how to apply. | |
Other | For other potential COVID resources |
Measure | Summary | Resources / Link |
COVID-19 Disaster Payment | Under a new combined Commonwealth and NSW Government support package, the COVID-19 Disaster Payment will be further expanded and increased. From week four of a lockdown because of a Commonwealth Government declared hotspot, the Payment will increase to $750 pw (up from $600 pw) if a person has lost 20 or more hours of work a week or $450 pw (up from $375 pw) if a person has lost between 8 and less than 20 hours of work a week or a full day of work. The new national payment rate will commence in the week of 2 August and will be automatically updated for existing recipients. It will be available from day one of any lockdown in the future, with claims made from day eight in arrears, with a weekly payment then made for the duration of the Commonwealth hotspot declaration. No liquid assets test will apply. | Apply at Services Australia |
2021 COVID-19 Business Grant | A one off, tax free grant depending on decline in turnover experienced over a minimum 2-week period from 26 June 2021 to 17 July 2021, compared to 2019:
* Please note the revised timeframes for calculating decline in turnover for the 2021 Covid-19 business grant. For businesses (and not for profits) with:
Employee headcount retention condition applies. Applications open: 19 July 2021. Applications close: 13 September 2021 | |
2021 JobSaver Payment | Tax free fortnightly payments between $1,000 and $100,000 a week for the period from 18 July 2021 to eligible employers and sole traders (including not for profits) with aggregated annual turnover between $75,000 and $250 million (up from $50 million):
30% turnover decline test and employee headcount retention conditions apply. For sole traders, the business must be their primary income source Applications open: 26 July 2021 Applications close: 18 October 2021 | |
2021 COVID-19 Micro Business Grant | Tax free fortnightly payment of $1,500 to businesses (including not for profits) with annual turnover between $30,000 and $75,000.
Applications open: 26 July 2021 Applications close: 18 October 2021 | |
Hospitality and tourism COVID-19 support grant | Payment to tourism or hospitality businesses that have a turnover of more than $75,000 and an annual Australian wages bill of below $10 million, as at 1 July 2020. | |
Payroll tax relief | 2021/22 payroll tax waivers of 25% for businesses with Australian payrolls between $1.2M and $10M that have experienced a 30% decline in turnover, as well as payroll tax deferrals and interest free repayment plans. NSW businesses with a payroll tax liability have the option to defer lodgement and payment of their 2020/21 annual reconciliation until 7 October 2021. | NSW Treasurer’s media release 22 July 2021 |
Land tax relief
| Commercial, retail and residential landlords eligible for land tax relief equal to the rent reductions granted to financially distressed tenants up to 100% of their 2021 land tax liability. Available for rent reductions made from now until 31 December 2021. | NSW government support for residential and commercial tenants |
Residential landlord grant
| Residential landlords not subject to land tax can apply for either:
Eligibility:
| NSW government support for residential and commercial tenants |
Small business fees and charges rebate
| Sole traders, owners of a small businesses and not-for-profits may be eligible for a fees and charges rebate of $1500 to offset the costs of eligible NSW and local government charges due and paid from 1 March 2021. The rebate is available until 30 June 2022. | |
Assistance for not-for-profit and commercial performing arts organisations and music venues | A $75 million support package to continue paying staff and performers and provide support for loss of box office income due to COVID restrictions. Applications open: 23 July 2021 |
At Accorti Accountants + Advisors we specialise in helping clients through difficult times. If you have any questions Contact us now
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Brisbane & Gold Coast Business Accountants.
Accorti Accountants + Advisors is a firm of chartered accountants that provide business accounting, tax, and advisory solutions for evolving businesses in Brisbane and the Gold Coast region.