$10K Cash Grants for Covid-19 Affected SA Small Businesses
South Australian small businesses and not-for-profits that have suffered a significant loss of income or been forced to close as a result of Covid-19-related restrictions, will be offered a one-off $10,000 emergency cash grant from the State Government to further support them through the crisis.
The grant is being funded from the State Government’s $650M Jobs Rescue Package, and will assist an estimated 19,000 eligible small businesses and not-for-profits including restaurants, cafes and cellar doors as well as gyms, hairdressers and beauty and nail salons.
The cash grants will be available to help cover a business’ ongoing or outstanding operating costs, such as rent, power bills, supplier and raw materials costs and other fees.
To be eligible, businesses and not-for-profits including eligible sporting and community organisations will need to:
- Employ people in South Australia
- Have annual turnover of more than $75,000 (GST exclusive)
- Have payroll of less than $1.5M, and not entitled to a payroll tax waiver under COVID19 support measures introduced by the State Government
- Have an ABN and were carrying on the operation of a business in SA on March 1, 2020
- Have been subject to closure or highly impacted by COVID-19 related restrictions
- Use the funds to support activities related to the operation of the business
- Apply by June 1, 2020.
- A business has received any SA Government grants provided to address COVID-19-related business impacts, these payments will be deducted from the $10,000 grant
- The business is part of a group of companies that is registered for payroll tax and will receive the payroll tax waiver, the business is ineligible for this grant.
Hood Sweeney Head of Accounting Scott Young* said it’s important that businesses "assess all grant applications in light of the new $10,000 emergency cash grant because this latest grant could be reduced by other grants you may already have applied for".
For information on the grants and other relief measures recently announced by the State and Federal Governments, ring your Hood Sweeney relationship manager on 1300 764 200 or get in touch via email.
To register interest in the emergency cash grant, visit the link and leave contact details. You will receive an email notification when the grant opens.
Applications for the grant will open shortly and be available until 1 June, 2020.
This grant will also work in tandem with the Federal Government’s stimulus measures – including the $1500-a-fortnight JobKeeper wage subsidy program - and be made available to local small businesses that employ people in SA and have a turnover of more than $75,000.
For information on the grants and other relief measures recently announced by the State and Federal Government’s, ring your Hood Sweeney Accounting & Business Advisory* relationship manager on 1300 764 200 or get in touch via email.
*Hood Sweeney Accounting & Business Advisory AFSL No. 485569, ABN 30 007 696 595