Andrew Sykes
Partner

UPDATE 31 August, 12 noon: The Australian and ACT Governments have expanded the COVID-19 Business Support Grants with the extension of the ACT lockdown to 17 September. The ACT COVID-19 Business Support Grants will deliver support in the form of one-off grants of $20,000 for employing businesses and $7,500 for non-employing businesses where those businesses' turnover has declined by 30 per cent or more as a result of the COVID-19 health restrictions. Anyone who has made an application does not need to make a new application - the new payments will be automatically applied if you are eligible.

Applications open on 26 August 2021 to apply for ACT COVID-19 Business Support Grants and will remain open until 7 October 2021.  You can access the official website Employing businesses Non-employing businesses. We have summarised the key points below.

WHAT is the ACT Business Grant?

The ACT COVID-19 Business Support Grants consist of $10,000 for employing businesses or $4,000 for non-employing businesses.

WHEN can you apply?

Businesses can apply any time between 26 August 2021 - 7 Oct 2021 and the estimated processing time is average 30 days from lodgement.
The outcome of your application will be notified via email and payment made directly into the bank account.

WHO can apply?

Businesses must meet all the eligibility criteria including: 

  • Active ABN & Registered for GST on or before 1 April 2021
  • Primary operation in the ACT as at 1 April 21
  • Employ people in the ACT as at 1 April 2021
  • Annual turnover more than $75,000 (Excl. GST) in either 2020 or 2021 FY
  • Annual wage of less than $10 million in 20 or 21FY
  • 30% Reduction in turnover: compare consecutive 7 day period during lockdown 13 August – 2 Sep with a consecutive 7 day period in April 21 to August 21 

 

HOW/WHERE to apply?

Applications including all support material, must be made through Smarty Grants.
Applicants must provide*:

  1. Your ABN
  2. A BAS or Tax return demonstrating:
     
    • turnover of more than $75k in 20 or 21 FY
    • payroll less than $10mil
  3. Evidence for 30% or more reduction which may consist of:
     
    • Extracts from accounting software
    • Comms with clients or suppliers detailing cancellation/postponed orders/appointments
    • Receipts for refunds provided
    • Invoices/delivery dockets
  4. Bank statement to evidence bank account details and link to the business ABN
  5. Contact details of qualified accountant, tax agent or BAS Agent
  6. Eligibility declaration
  7. Identity document for the applicant (owner or co-owner) one of following
     
    • Driver licence, AU Passport, Medicare card or foreign passport with AU Visa
  8.  Declaration to act on behalf of the business (Tax agent can apply on behalf)

 

*Noting you should retain supporting documents for 2 years, subject to a spot check

If you need assistance with ACT Covid-19 Business Grant application, please contact Young Han.

For further information

If you require further information about the COVID-19 lockdown and grants available, please contact your local RSM adviser to find out more in relation to these measures.