Additional Grants for SA Businesses – Are you eligible?
The SA Government has announced a further support package for employing and non-employing businesses impacted by the restrictions that were put in place on 27th December 2021. The grants in the package are in addition to the ones announced in December 2021.
If you were a business that received a payment for the COVID-19 Tourism, Hospitality and Gym Grant - turnover based payment or Business Hardship Grant in January 2022, you will receive an automatic payment for this round of grants. Therefore no further action will be required.
If you did not receive the previous grants, you will need to submit an application.
Tourism, Hospitality and Gym Grant – Additional Round
The additional round for the Tourism, Hospitality and Gym Grant will provide up to $22,000. This is in addition to the previous Grants of up to $22,000 that businesses may have been eligible for.
You will need to declare that your business has experienced at least a 30% reduction in turnover for the period 10 January 2022 to 30 January 2022 when compared to an equivalent reference period*. This includes any business required to operate under the density restrictions of 1 person per 7 square metres.
Applications will be available on 14 February 2022 and guidelines will be available shortly. Once this is released, we will provide you with an update.
Tourism, Hospitality, Gym and Other Businesses - Payroll Tax Deferral
If your business has been impacted by the 1 person per 7 sqm density restrictions, you may be able to apply for payroll tax deferral for the remainder of the 2021/22 financial year. Application is required to be made to Revenue SA.
Business Hardship Grant – Additional Round
The additional round for the Business Hardship Grant will provide up to $8,000. Again this is in addition to the previous Grants of up to $8,000 that businesses may have been eligible for.
Your business will also need to declare and have supporting evidence that you experienced at least a 50% reduction in turnover due to the restrictions put in place for a period of 10 January 2022 to 30 January 2022 when compared to an equivalent reference period*.
Applications will be available on 14 February 2022 and guidelines will be available shortly. Once this is released, we will provide you with an update.
* Equivalent reference periods are
If your business commenced trading prior to the 2019/20 financial year (before 30/6/19):
the turnover test period is from 10 January 2020 to 30 January 2020 for businesses actively trading in 2019-20.
If your business commenced trading after the 2019/20 or 2020/21 financial year (after 30/6/19, but before 1/12/20):
the turnover test period is from 10 January 2020 to 30 January 2020 or 10 January 2021 – 30 January 2021.
If your business commenced trading on or after 1/12/20:
you must declare and retain evidence to support a 50% reduction in turnover for the same 10 January 2022 to 30 January 2022 period compared to the average fortnightly turnover from when the business commenced operations to 30 November 2021.
Please refer to our blog dated 23 January 2022 to find out if you were eligible for the previously announced Grants at https://www.milaneseco.com.au/blog/2022/1/23/sa-government-covid-grants-for-businesses-for-the-period-27-december-2021-9-january-2022
Sources:
https://www.treasury.sa.gov.au/Growing-South-Australia/COVID-19/january-2022/Additional-Rounds-January-2022
https://www.premier.sa.gov.au/news/media-releases/news/more-support-for-sa-business-as-marshall-government-announces-latest-package-to-protect-jobs-and-boost-economy
If you need further assistance, please be in contact with our office on (08) 8523 0999 to discuss your matter with an experienced accountant.
Regards,
Milanese & Co Accountants