2021 COVID-19 Business Support Grants Queensland Now Open
New changes have expanded the funding available through the Queensland COVID-19 Business Support Grant, so make sure you're up to speed to avoid missing out.
While it’s no secret that the highly contagious Delta variant is causing headaches for state leaders right across Australia, Queensland’s latest lockdown was implemented on Saturday 31 July for a three day period, before being extended to eight days.
As a result, the recent announcement of the latest COVID-19 Business Support Grant provided small to medium size businesses the opportunity to access $5,000 grants for eligible enterprises as a means to help offset the impact of multiple border closures, and the less than ideal trading circumstances. Thankfully, to access funding released through the COVID-19 Business Support Grant, the silver lining is that your business doesn’t have to be located in one of the LGA’s affected by the lockdowns that affected South East Queensland and Cairns in July. To put it simply, it would seem that the Queensland Government recognises the impact that regional and rural communities face when dealing with multiple border closures as well.
However, as the Delta variant continues to wreak havoc right across Australia, the State and Federal Government have joined forces and expanded the Queensland COVID-19 Business Support Package, with changes being rolled out regarding the amount of funding, who can access it, and how to apply - so what’s new?
Changes To the COVID-19 Business Support Grant Explained
Under the new joint Queensland and Australian Government support package, tiered payments based on payroll size for eligible businesses and not-for-profit organisations across Queensland are available. The new updates to the COVID-19 Business Support Grant in relation to these payments now include:
$1,000 Grant - If you are a Queensland-based non-employing sole trader who has had a decline in turnover of more than 30% due to the South East Queensland lockdown that commenced on 31 July 2021, or the Cairns and Yarrabah lockdown that commenced on 8 August 2021, you may be eligible for a one-off $1,000 grant. *Further information is still to be released for this grant.
$10,000 Grant - Available to employing small businesses and not-for-profit organisations with an annual payroll in Queensland of less than $1.3 million. To qualify, you must have a turnover of more than $75,000 per annum and have an annual payroll in Queensland of less than $1.3 million.
$15,000 Grant - Available to employing medium sized businesses and not-for-profit organisations with an annual payroll in Queensland between $1.3 million and $10 million. To qualify, you must have a turnover of more than $75,000 per annum and have an annual payroll in Queensland of between $1.3 million and $10 million.
$30,00 Grant - Available to employing large sized tourism and hospitality focused businesses and not-for-profit organisations with an annual payroll in Queensland of greater than $10 million. To qualify, you must be operating in the tourism and hospitality sector, have a turnover of more than $75,000 per annum and have an annual payroll in Queensland of more than $10 million.
All of the above COVID-19 Business Support Grants are available to businesses who have been impacted by the South East Queensland lockdown that commenced on 31 July 2021, or the Cairns and Yarrabah lockdown that commenced on 8 August 2021, or any other lockdown in the month of August 2021. However, it’s important to note that your business does not have to be located or operating in one of the LGA’s that was locked down - you just need to show that your enterprise was negatively affected.
To be eligible for one of the available grants outlined above, your business or not for profit organisation must:
Employ staff (employees must be on your payroll and does not include any business owners)
Have an Australian Business Number (ABN) continuously held from 30 June 2021
Be registered for GST
Have Queensland headquarters (i.e. your principal place of business is located in Queensland) and have been trading in Queensland on 31 July 2021
Not be insolvent, or have owners or directors that are insolvent or an undischarged bankrupt
Have an annual payroll of no more than $10 million (except for large businesses and not for profit organisations operating in an identified tourism and hospitality sector) during any of the 2018-19, 2019-20 or 2020-21 financial years
Have an annual turnover of over $75,000 during any of the 2018-19, 2019-20 or 2020-21 financial years. Businesses that have recently started can provide financial records to show they will reasonably meet this turnover requirement in the 2021-22 financial year
Demonstrate the business or not for profit organisation was directly or indirectly impacted by a lockdown event
Demonstrate or declare a reduction in turnover of 30% or more during a nominated seven day period. This must include at least one full day of a lockdown event when comparing against turnover achieved during the same seven day period in July or August 2019 OR if the 2019 period does not indicate a typical weekly turnover (e.g. for a recently started small business or business that has experienced structural changes), include another comparable period (e.g. the same period in July/August 2020)
Large tourism and hospitality businesses and not for profit organisations must ensure they are undertaking business activities in any of the identified tourism and hospitality ANZSIC (Australian and New Zealand Standard Industrial Classification) code industry areas and meet all eligibility criteria, although you can have an annual payroll greater than $10 million.
Applications for the 2021 COVID-19 Business Support Grants opened at 12pm (midday), 16 August and will close on 16 November 2021. All eligible businesses who apply for a grant during the three month application period will receive funding. Successful applicants will receive the total value of the boosted grants ranging from $10,000 to $30,000 depending on the size of your annual payroll, and excluding GST.
If you believe you fit the above criteria and would like a proposal for Muro to assist with assessing your eligibility and providing the documentation required, please complete the form below.