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NSW rebate for small businesses, sole traders and not-for-profits impacted by COVID-19

 

NSW rebate for small businesses, sole traders, and not-for-profits impacted by COVID-19

The Government has created a rebate that will help support small businesses, sole traders, and not-for-profits in NSW. This will help those impacted by COVID-19 with the recovery of their business as well as encourage growth by reducing the cost associated with running a business.

Businesses, sole traders, and not-for-profits in NSW will be eligible for rebates of up to $3,000. Those who are eligible can use the funds to offset the costs of eligible NSW and local government fees as well as charges due and paid from 1 March 2021.

These include, but are not limited to:

  • Food authority licences
  • Liquor licences
  • Tradesperson licences
  • Event fees
  • Outdoor seating fees
  • Council rates
  • Road user tolls for business use

If you are an employing business, you can now claim 50% of the cost of COVID-19 rapid antigen tests up to the full rebate value of $3,000. This has been established to help businesses assist their employees to ensure they test when required.

Eligibility

In order to be eligible for the rebate, you must:

  • Have total Australian wages below the NSW Government 2020-2021 payroll tax threshold of $1.2 million
  • Have an Australian business number registered in NSW and/or have business premises physically located and operating in New South Wales

If your business wish to claim 50% of the cost of RATs, up to the rebate value of $3,000 you must be a small business with employees. If you are a business without employees, you are not eligible to use the rebate to claim the cost of RATs.

Restrictions

The following are ineligible for funding:

  • Fines and penalties
  • Fees and charges in place that have the key purpose of discouraging or inducing behavior changes
  • Commonwealth government charges
  • Rent on government premises
  • NSW and Commonwealth Government taxes
  • Entities where passive income, such as rent, interest, dividends, and royalties, is more than 50% of the business’ income

How to apply

The rebate is available until the 30th June 2022.

To apply and check you meet the eligibility criteria click here

Call us today on 1300 4 MORRIS and speak to one of our finance specialists to see how we can assist your business.