The ACT Government has expanded their business support grant scheme in light of the lockdown extension.
Eligible businesses can now receive a one-off grant payment of $20,000 (businesses with employees) or $7,500 (businesses without employees) if they have experienced a revenue decline due to the lockdown. This is an increase on prior $10,000 and $4,000 payments respectively.
Eligibility criteria has remained the same, requiring businesses to:
- Demonstrate at least a 30% reduction in revenue for a consecutive seven day trading period between Friday 13 August – Friday 17 September 2021 when compared to a prior seven day trading period from April 2021 onwards;
- Be registered for GST and have operated in the ACT as of 1 April 2021; and
- Have a turnover of at least $75,000 (ex. GST) per annum.
For businesses with employees, they must also have:
- Employees based in the ACT; and
- A total Australia-wide payroll of less than $10 million.
Successful grant applicants can expect payment within 30 days of their application being received. Businesses who have already applied for the grant do not need to apply again, the new payment amount will automatically be applied to their existing application.
Further information can be found here.