Immediate $10,000 Cash Grants For Small Businesses Hit By COVID-19

This morning, the South Australian Government announced a $10,000 emergency cash grant for SMEs and not for profits severely impacted by the pandemic, in a bid to strengthen the ​‘backbone’ of the State’s economy.

The announcement by Premier Steven Marshall is a crucial step in securing cashflow for small businesses and not for profits across South Australia. Grants will be made available to entities turning over a minimum of $75,000 each year with wage expenses of up to $1.5 million.

The full list of eligibility requirements for businesses and not for profits (including eligible sporting and community organisations) are as follows:

• The entity must employ people within South Australia.
• The entity must have an annual turnover of more than $75,000 (GST exclusive).
• The entity must have an annual payroll of less than $1.5 million, and not be entitled to a payroll tax waiver under COVID-19 support measures introduced by the South Australian Government.
• The entity must have an ABN and were carrying on the operation of the business in South Australia on 1 March 2020.
• The entity must have been subject to closure or highly impacted by COVID-19 related restrictions^.
• The entity must use the funds to support activities related to the operation of the business. 

It is important to note that there are some exceptions to the scheme:

• If the entity has received any South Australian Government grants provided to address COVID-19 related business impacts, the value of these payment(s) will be deducted from the $10,000 grant.
• If the entity is part of a group of companies that is registered for payroll tax and will receive the payroll tax waiver, the business is ineligible to receive the grant. 

Applications for the scheme are now open and close on 1 June 2020. To apply, click here

For more information on the grant scheme, click here