The NSW Government has extended the deadline for the COVID-19 Business Grant. Applications are now due by 1 October, 2021 to receive a one-off sum to assist with business costs for businesses impacted by the current NSW lockdown.
Three different grant amounts will be available depending on your decline in turnover:
- $7,500 for a decline of 30% or more
- $10,500 for a decline of 50% or more
- $15,000 for a decline of 70% or more
This decline in turnover needs to be recorded over a minimum 2-week period from 26 June 2021 to 17 July 2021 compared to:
- the same period in 2019, or
- the same period in 2020, or
- the 2 weeks immediately prior to any restrictions (12 June to 25 June 2021)
There are specific eligibility requirements which you can read in full here
Commercial Landlord Hardship Fund
The Commercial Landlord Hardship Fund provides grants of up to $3,000 per month to eligible small landlords who experience hardship due to reducing rent for their tenants under the Retail and Other Commercial Leases (COVID-19) Regulation. This is particularly targeting landlords whose main source of income is their rental income.
To learn how the fund works and whether you're eligible, please click here. Applicants must apply for the fund online via the Service NSW website.
N.B. As the landlord you can only claim this or the land tax relief and are unable to claim both. If you are unsure of which would be greater benefit to you, please reach out to us today.
Learn more about the Commercial Landlord Hardship Fund here