If your business suffers a significant loss of income as a result of South Australia’s seven day lockdown, you may be eligible for financial assistance.
Today the Marshall Liberal Government announced that emergency cash grant payments would be available to eligible businesses and sole traders.
The South Australian grants apply to businesses with a payroll of less than $10 million, with an annual turnover of $75,000 or more (in 20/21 or 19/20) and whose turnover is reduced by at least 30 percent over the 7 day lockdown period starting from 20th July 2021. There are two types of cash grants available: $3,000 cash grants for eligible small to medium sized businesses who employ staff, and $1,000 cash grants for eligible non-employing businesses.
To be eligible for the one-off $3000 cash grant a business must:
- be located within South Australia
- have an annual turnover of $75,000 or more in 20/21 or 19/20
- be registered for GST
- employ people in South Australia
- have a payroll of less than $10 million in 19/20 (Australia wide)
- hold a valid ABN
- have experienced at least a 30% reduction in turnover due to restricted trading. Turnover is compared to the week prior.
To be eligible for the one-off $1000 cash grant, a non employing business must meet all of the criteria above, excluding the requirement to employ people.
Payments for businesses/sole traders deemed eligible will be made in arrears and the applications are expected to open within the next fortnight.
To register your interest in the Business Support Grant click here to visit the SA Treasury website.
Disclaimer: information and/or advice posted on our website is general in nature. It is highly recommended that you contact your business advisor, accountant or bookkeeper to discuss your specific circumstances and eligibility.
