COVID-19 Government Grants currently available for small to medium size businesses

Over the past months the state governments have released a multitude of grants for SMEs.

As it is tough to keep up to date on each of these, we have listed a summary of all of the grant funding programs currently on offer so that it will be easier for you to identify and apply for those grants your business may be eligible for.

Australia-wide

JobKeeper payments

On 21 July 2020, the Government announced it is extending the JobKeeper Payment until 28 March 2021 and is targeting support to those businesses who continue to be significantly impacted by the Coronavirus. The ATO is administering the JobKeeper Payment and detailed information and guidance on JobKeeper is available on theATO website.
Read more

PAYG cash flow boost

Eligible businesses and not-for-profit (NFP) organisations who employ staff will receive between $20,000 to $100,000 in cash flow boost amounts by lodging their activity statements up to the month or quarter of September 2020.
Read more

Economic support – VIC/QLD/NSW

As small businesses all across Australia start to feel the effects of the COVID-19 outbreak, state governments are offering support for local small businesses. To read about the tax relief support and grants available in your state, please click below.
VIC QLD NSW

Victoria

Payroll Tax Refund

Businesses with annual taxable wages up to $3 million will have their payroll tax for the 2019-20 financial year waived, giving $550 million back to businesses who need it. Eligible businesses must continue to lodge returns but do not need to make further payments for this financial year. These businesses can also defer paying payroll tax for the first quarter of the 2020-21 financial year.
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Local Lockdowns Business Support Program

Businesses within metropolitan Melbourne and Mitchell Shire that are affected by the return to Stay at Home restrictions may be eligible for a one-off, $5,000 grant under the Business Support Fund – Expansion program. Applications for the program close on 19 August 2020.
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Regional Tourism Accommodation Support Program

Due to the recent restrictions in imposed in July 2020 in Victoria means that residents in affected areas, as well as some interstate visitors are prevented from travelling to Victoria, will have to cancel bookings with accommodation providers in regional Victoria. Therefore, accommodation businesses in regional Victoria impacted by these cancellations will be able to apply for direct financial support through the Regional Tourism Accommodation Support Program.
Read more

Night-time economy support program

The Victorian Government has launched a $30 million dedicated fund for the hardest hit businesses in hospitality. More details will be available soon. To register your interest please follow the link below.
Register your interest

CBD Business Support Fund

The Victorian Government is establishing a $20 million CBD Business Support Fund to help small businesses in Melbourne’s CBD faced with a large and sustained shock to their trading environments. More details will be available soon. To register your interest please follow the link below.
Register your interest

Commercial tenancy relief scheme

A commercial tenancy relief scheme is available to alleviate financial hardship faced by tenants and landlords as a result of coronavirus (COVID-19).
Read more

Queensland

Small Business COVID-19 Adaption Grant Program

Round 2 has now being opened for regional Queensland businesses. Up to $100 million is being made available to deliver a second round of grants, with half of this funding specifically earmarked for regional small businesses located outside of South East Queensland.
Read more

We will continue to provide you information on any new grants announced across Australia. In the meantime if you would like any assistance in discussing any of the above grants that your business would be eligible for, please contact your accountant via the details below:

Brisbane

Matthew Smith – matts@primefinancial.com.au
John Driscoll – johnd@primefinancial.com.au
Sean Fincham – seanf@primefinancial.com.au

Sydney

John Driscoll – johnd@primefinancial.com.au
Sean Fincham – seanf@primefinancial.com.au

Melbourne

Matt Murphy – mattm@primefinancial.com.au
Brendan Brown – brendanb@primefinancial.com.au
Simone Quin – simoneq@primefinancial.com.au
Paul Minieri – paulm@primefinancial.com.au
Jade Nicholls – jaden@primefinancial.com.au
Stuart Thomson – stuartt@primefinancial.com.au

This post is provided by Prime Accounting and Business Advisory Pty Ltd. Liability limited by a scheme approved under Professional Standards Legislation. This post is not a substitute for independent professional advice. We do not warrant the accuracy, completeness or adequacy of the information or material in this post. All information is subject to change without notice. We and each party providing material displayed in this post disclaim liability to all persons or organisations in relation to any action(s) taken on the basis of currency or accuracy of the information or material, or any loss or damage suffered in connection with that information or material. You should make your own enquiries before entering into any transaction on the basis of information or material in this post. Please ensure you contact us to discuss your particular circumstances and how the information provided applies to your situation.

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