Canberra based businesses are set to receive a further grant payment of approximately up to $30,000 as a result of the ACT Government’s decision to extend the lockdown for another four weeks.
The extension of the ACT Covid-19 Business Grants means that employing businesses across the territory will be given an extra $10,000, while non-employing businesses will be given an extra $3,750.
It was also announced that an extra one-off top-up payment will be distributed to larger businesses, such as $10,000 for employing businesses with a turnover greater than $2 million and less than $5 million, $20,000 for those with turnovers between $5 million and less than $10 million, and $30,000 for those with turnovers of more than $10 million.
The support package will be co-funded by the Australian and ACT governments following the announcement of ACT’s lockdown being extended for another four weeks until Friday 15th October.
The ACT Chief Minister Andrew Barr said the additional support will help local business through a major period of uncertainty.
“The COVID?19 Business Support Grant program has already delivered over $17 million dollars to businesses suffering from significantly reduced turnover, and tens of millions more will be paid out as we work through applications.” Mr Barr said.
“The ACT Government continues to work constructively with the Commonwealth Government, I thank the Federal Treasurer and his office for their engagement to date, as we try to help Canberra businesses in these tough times.”
The ACT has also revealed that there will be more additional grants for tourism, accommodation, hospitality, arts and events sectors.
Close to 2,000 ACT businesses in in the tourism, hospitality, accommodation, and arts and events industries will be also receive additional one-off grants.
Non-employing businesses will receive $1,000, while those with employees and a turnover of less than $2 million to receive $3,000.
Employers with turnovers of more than $2 million and less than $5 million will receive $10,000, while those with turnovers of more than $5 million set to receive $20,000.
Queensland Government Announces $54 Million Support Package For Struggling Gold Coast Border Businesses
Business on the Gold Coast that have been impacted by the recent boarder closure have been handed a lifeline from both the Queensland State and Federal Governments.
On Tuesday 14th September, Queensland Premier Annastacia Palaszczuk announced a $54.5 million emergency support package with an aim of supporting businesses who have been impacted by the ongoing border restrictions and lockdowns interstate.
“We know that border communities have been doing it particularly tough. Families have been separated and communities divided and many business have been hard hit,” said Queensland Premier Annastacia Palaszczuk.
The newly announced support package consists of $6.3 million being spent towards extending the existing Covid-19 Business Support Grants Program
$6.5 million will also be distributed in the form of a one-off hardship grants scheme that will offer payments of $5,000 for employers and $1,000 for sole traders.
Up to $1 million will also be spent to match the funding for a voucher campaign, delivered by City of Gold Coast and Destination Gold Coast. This scheme will encourage Gold Coast locals to go and support businesses at the border who have been struggling. $50,000 will also be distributed to support a tourism marketing campaign for the Coolangatta area and surrounds.
The tourism and hospitality sectors situated across Queensland will also be eligible to access a $40 million hardship program which will deliver one-off grants of up to $50,000 to business that have experienced a reduction in turnover of at least 70 percent since July.
$700,000 will also be financed to assist with mental health support for business owners and their families in the border zone.
The team at C&D Restructure and Taxation Advisory are here to help. As part of the Vault Group we can offer the full suite of financial products and advice to help you navigate the business landscape. Schedule a meeting here via Calendly or give us a call on 07 36086800.
The team at C&D Restructure and Taxation Advisory are here to help. As part of the Vault Group we can offer the full suite of financial products and advice to help you navigate the business landscape. Schedule a meeting here via Calendly or give us a call on 1300 1 VAULT (1300 182 858)
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