COVID-19 Lockdown Financial Support
With South Australia now being in Lockdown for a seven day period, we, at Cortex Accounting, are available to support you through this difficult time.
Individuals and businesses who have been directly effected have access to the following government financial support.
Business Support Grant
Eligible SA small and medium businesses impacted by the latest COVID-19 restrictions can access a one-off $3,000 emergency cash grant and a one-off $1,000 emergency cash grant to help cover operating costs such as rent, power bills and suppliers.
To be eligible for the one-off $3,000 grant, a business must as at 12:01am Tuesday 20 July 2021:
- be located within SA and employ people in SA
- have a valid ABN and be registered for GST
- have annual turnover of $75,000 or more in 2020-21 or 2019-20
- have an Australia-wide payroll of less than $10 million in 2019-20
- have experienced at least a 30% reduction (compared to the week prior) in turnover due to the restricted trading conditions.
To be eligible for the one-off $1,000 grant, a non-employing business must meet the criteria above excluding the employment requirement.
Non-employing businesses are not eligible to apply if persons associated with the business, and who derive income from it, have applied for, or are receiving, the Commonwealth COVID-19 Disaster Payment (refer below).
Applications are expected to open before the 4th of August and will close on the 30th of September.
COVID-19 Disaster Payment
The Federal and State Government will provide disaster payments of up to $600 per week for eligible workers.
The payments will be made in arrears for the lockdown.
If you’re eligible, you’ll get $375 for each relevant period if you lost either:
- between 8 and less than 20 hours of work per week
- a full day of your usual work hours per week.
If you lost 20 hours or more of work per week, you’ll get $600 for each relevant period, if you’re eligible.
A full day of your usual work is what you were scheduled to work but could not because of a restricted movement order. This includes not being able to attend a full time, part time or casual shift of less than 8 hours.
The COVID-19 Disaster Payment can be applied for at Services Australia.
Applications for income support payments to eligible SA individuals can be made from 28 July.
Note that this assistance has only recently been announced. The Services Australia website says more information will soon be available for people affected by South Australian restrictions.
If you have any queries regarding the above, or anything else for that matter, please do not hesitate to contact me at shannon@cortexaccounting.com.au or 08 8372 7838.