The Government of South Australia has just announced a second economic support package. The $650 million package has four key elements:
- Relief from taxes and charges.
- A Business and Jobs Support Fund.
- A Community and Jobs Support Fund.
- Additional support to recipients of JobSeeker payments from Centrelink who also receive a State Government Cost of Living Concession.
The $300 million Business and Jobs Support Fund aims to assist businesses and industries facing collapse due to the effects of COVID-19 and the restriction in place to stop its spread.
A $250 million Community and Jobs Support Fund is aimed at supporting community organisations, such as sporting, arts, recreational bodies and not-for-profit organisations.
Businesses will see more relief from payroll tax, with a six month waiver for businesses with less than $4 million turnover and six months deferment for businesses who earn over $4 million.
People who find themselves out of work will also gain more support, with a one-off $500 boost to households receiving JobSeeker payments.
$10,000 Emergency Cash Grants for Small Businesses
Small businesses and not-for-profit entities that employ South Australians who have been highly impacted by the COVID-19 pandemic may be eligible to receive a $10,000 grant to support the operation of their business.
The grant is being funded from the State Government’s $650 million Jobs Rescue Package.
To be eligible, businesses and not-for-profits including eligible sporting and community organisations will need to:
- Employ people in South Australia.
- Have annual turnover of more than $75,000 (GST exclusive).
- Have an annual payroll of less than $1.5 million, and not be entitled to a payroll tax waiver under COVID-19 support measures introduced by the South Australian Government.
- Have an ABN and were carrying on the operation of the business in South Australia on 1 March 2020.
- Have been subject to closure or highly impacted by COVID-19 related restrictions^.
- Apply by 1 June 2020.
- Use the funds to support activities related to the operation of the business.
- The business has received any South Australian Government grants provided to address COVID-19 related business impacts, the value of these payment(s) will be deducted from the $10,000 grant.
- The business is part of a group of companies that is registered for payroll tax and will receive the payroll tax waiver, the business is ineligible for this grant.
Applications for the grant will open shortly and be available until 1 June 2020.
If you would like to register your interest for the grant please provide your contact details below. You will receive an email when the application process opens.
To find out more information visit Treasury.sa.gov.au