An expanded COVID-19 Business Assistance Package has been announced for Western Australian businesses who have experienced a 40 percent decrease in business for any two-week period since 1 January 2022 until 30 April 2022.
This program will provide support to all eligible businesses that meet the criteria.
Small Business Hardship
To be eligible for the Small Business Hardship Grants, businesses must:
- Have a valid and active Australian Business Number (ABN).
- Have an Australia-wide payroll of less than $4 million.
- Have an annual turnover of more than $50,000, excluding GST.
- Be able to demonstrate a reduction in turnover for any consecutive two-week period between 1 January 2022 to 30 April 2022, compared to the equivalent period in 2021*.
- For the 40 per cent tier, a reduction of at least 40 per cent.
- For the 30 per cent tier, a reduction of at least 30 per cent.
*An alternative period in 2021 may be used if the business did not operate at that time or it provides an inaccurate representation of the business’ financial situation.
Eligible applicants will receive a tiered grant payment, dependant on their reduction in turnover and the number of Full Time Equivalent (FTE) employees of the business.
Read more here
If this applies to you or you are unsure, please do not hesitate to contact our office on 6323 7000 to discuss the matter with your trusted adviser.
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