The NSW Government has announced the 2021 COVID-19 Micro Business Grant to help NSW businesses, sole traders and not-for-profits impacted by the COVID-19 restrictions.
Frequency
- Fortnightly, subject to lockdown
How much
- $1,500 per fortnight
NSW COVID-19 Micro Business Grant Eligibility
(subjected to changes, for updates see NSW Services Eligibility):
- Annual turner between $30,000 and $75,000 for the year ended 2020
- Have experienced a decline in turnover of 30% or more due to the public health order over a minimum 2-week period within the period of restrictions from 26 June 2021 to 17 July 2021, compared to:
- the same period in 2019, or
- the same period in 2020, or
- the 2 weeks immediately prior to any restrictions of 12 June to 25 June 2021 (inclusive).
- Applies to business costs for which no other government support is available
- Must not have applied for either the 2021 COVID-19 Business grant or the JobSaver payment
- Non-employing businesses such as sole traders. The business must be the primary income source
- Non-employing businesses must not be in receipt of the 2021 Micro-Business Grant or Commonwealth Disaster Payment for the same period.
- For employing businesses, maintain your employee headcount from 13 July 2021, if you receive payments from the commencement of the micro-business grant, or from the day immediately prior to the fortnight you first experienced the required decline in turnover, for the period you are receiving grant payments; businesses that do not maintain their headcount agree to notify Service NSW
- For further information and to apply, visit Apply for the 2021 COVID-19 Micro-Business grant.
This NSW 2021 COVID-19 business grant is not assessable income, as is covered on the ATO Government grants and payments during COVID-19 page. Do not confuse yourself with the NSW Small Business grant from 2020 which is assessable income. Please speak with your bookkeeper about this if you are uncertain.
Application dates
NSW 2021 COVID-19 Micro Business Grant Application Close 11:59pm on 18 October 2021
Method of application
To apply for this Grant go to apply online.
For help with your online application contact us. Alternatively, you can contact Service NSW to apply for the grant over the phone.
You need a MyServiceNSW Account to apply.
Click to create a MyServiceNSW Account
For further information on meeting the criteria of the Covid-19 Micro Business Grant Application Click Here.
If your business is on the list of highly impacted industries, you’ll need to declare that you have experienced the 30% or more decline in turnover during this period. You don’t need a BAS Agent or accountant to complete your application. If, however, you are not on this list you will need a letter from a qualified accountant, registered Tax Agent, or registered BAS Agent using the template letter.
Do You know The Correct Tax Code To Use On The BAS
The NSW 2021 COVID-19 Micro-Business grant is not assessable income, as is covered on the ATO Government grants and payments during COVID-19 page.
The 2021 COVID-19 Micro-Business grant is Not Reportable on the BAS Business Activity Statement. This means DO NOT code the 2021 COVID-19 Micro-Business grant GST Free, the 2021 COVID-19 Micro-Business grant is not a GST Free supply.
Speak with your qualified bookkeeper or use the following codes in your accounting software. BAS GST code for 2021 COVID-19 Micro-Business grant are:
- Xero = BAS Excluded
- MYOB = N-T
- Quicken Intuit = Out of Scope
The application process requires BAS Agents to:
- Study eligibility guidelines for the grant programs in each state, which have been continually changing, we do this to determine if we should sign the letter.
- Time to understand the information, collect records from you, check if the information on the letter matches the requirements for the grant program, and store this information for our records should we be audited.
- For new clients, we require a signed letter informing us that you are not withholding any information such as other bank accounts or cash received in payments, prior to providing any services. Once this letter is provided we can proceed in gathering the information required for the grant application letter from you.
