Login
iscover
Support grants for ACT businesses will now be doubled following the extension of lockdown restrictions for two more weeks.
Canberra business grants doubled following lockdown extension
01 September 2021
•
7 minute read
The COVID-19 Business Support Grants will now provide employing businesses with $20,000, while non-employing businesses can expect $7,500. Previous support was capped at $10,000 and $4,000, respectively.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Businesses must be able to demonstrate their primary operation in the ACT, have an annual turnover of more than $75,000, be registered for GST and have a total payroll of less than $10 million.
The program, jointly funded by the ACT and Commonwealth governments, will also require businesses to provide evidence of a 30 per cent reduction in turnover revenue in a consecutive seven-day period during the lockdown period.
Canberra’s lockdown first started on 13 August, with ACT Chief Minister Andrew Barr on Tuesday announcing an extension to 17 September.
Businesses that previously applied for the grant will not be required to reapply, with payments set to flow automatically in the coming days.
Federal Treasurer Josh Frydenberg said the increased business grant payments would supplement over $66 million in COVID-19 Disaster payments to over 50,000 individuals in the ACT.
“The Morrison Government understands the significant impact extended lockdowns have on individuals and businesses in the ACT,” said Mr Frydenberg.
“This support builds on the more than $2 billion the Federal Government has delivered to households and businesses in the capital.”
Mr Barr said the expanded and increased COVID-19 Business Support Grants would help local businesses see through the lockdown extension.
“Our lockdown is working, but we are yet to see the public health risk reduce to the point that can safely end the lockdown,” said Mr Barr.
“The COVID-19 Business Support Grant will help businesses suffering from significantly reduced turnover as a result of the necessary health restrictions to keep the transmission potential of COVID-19 below 1.
“The ACT Government continues to work constructively with the Commonwealth Government to ensure that we can keep people in jobs during this time.”
The announcement of increased grants in the ACT comes as the federal government takes heat for its “patchwork approach” to business support programs, resulting in uneven support to businesses enduring the same lockdown restrictions across different states and territories.
Accountants, who often have clients in different states, have also complained of the complexity in keeping abreast with the various eligibility requirements of the different state-based support programs.
You need to be a member to post comments. Become a member for free today!
