NSW government just released (25 July) the detailed guideline on 2021 COVID-19 Micro Business Grant.
For the COVID-19 Business Grant opened on 19 July 2021, please refer to our blog here.
For the JobSaver opens on 26 July 2021, please click our blog link for details.
If you have not already set up a MyServiceNSW Account and updated Business Profiles, you will need it for the applications of the grants. To register, please click here.
If you need any assistance on the applications, eligibility assessments and an accountant letter for business-related grants, please make bookings via the dedicated NSW COVID-19 Support Grants Booking Link. Advisor fees will be applicable. Our services will be prioritised based on the booking orders.
Micro Business Grant
Who
For the micro-businesses in NSW with aggregated annual turnover between $30,000 and $75,000 for the year ended at 30 June 2020. Micro-businesses include:
- Small business
- Sole Trader
- Not-for-profit organization
Turnover period
Decline in turnover for a minimum 14-day consecutive period between 26 June 2021 to 26 August 2021 inclusive, compared to:
- the same period in 2019, or
- the same period in 2020, or
- the 2-week period immediately before the Great Sydney lockdown commended (12 – 25 June 2021).
Turnover declined percentage
30% or more
How much do you get
$1500 per fortnight
When can you apply
Applications are open on 26 July 2021 and close at 11:59pm on 18 October 2021.
What to provide
When applying for the grant, you must:
- declare that you meet the eligibility criteria.
- submit evidence of showing your business’ annual turnovers for the year ended 30 June 2020 and decline in turnovers with either one or combination of the following to avoid delays in payments:
- letter from a qualified accountant, registered tax agent or registered BAS agent, or
- business bank account statements with comparative periods, or
- business activity statement (BAS), or
- Income tax return or Notice of Assessment.
How to apply
Service NSW will deliver the grant on behalf of the NSW Government. Please set up a MyServiceNSW Account and Business Profiles.
When do I get paid
Funds will be paid into your nominated bank account in 5 to 10 business days from when your application is approved, with the first payment backdated to 26 June 2021. If your application is lodged and approved by the closing date of 18 October, that will be a retrospective lump sum payment, if required.
Important things to keep in mind
- You are NOT eligible for this grant if ABN was registered after 1 June 2021.
- You are NOT eligible for this grant if your business primarily earns passive income (rent, interest or dividends).
- You are NOT eligible for this grant if you have applied either Business Grant or JobSaver.
- If you are a sole trader, you are NOT eligible for BOTH the NSW COVID-19 Micro Business Grant and the Commonwealth COVID-19 Disaster Payment. If you have received Disaster Payment as a sole trader, you are not eligible for this grant.
- If you’re a non-employing business, such as a sole trader, to be eligible, you need to have this business as your primary income source.
- If you’re an employing business, to be eligible, you must maintain your employee headcount as at 13 July 2021 while receiving payments from this grant. Your employees can still receive Commonwealth COVID-19 Disaster Payment.
Alternative circumstances
There are several circumstances, such as new business etc., not meeting the eligibilities in the guideline. Those businesses should contact Service NSW to determine if alternative comparison period, or alternative supporting evidence, can be applied.
For full information on COVID-19 Micro Business Grant, please click here.
Please note that the material and contents provided are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.