Applications open from April 2021
COVID-19 has had a large impact on our entire community. To support businesses to recover from the impact of the COVID-19 pandemic, the NSW government is trying to do its part in reducing the financial stress on small businesses by assisting them with fees and rebates.
What are the small business fees and charges rebate?
If you are an individual worker, or a joint owner of a small business, or even a not-for-profit organisation in NSW and have been financially impacted by COVID-19, your business may be eligible for a small business fee and charges rebate of $1,500.
This rebate scheme was designed with the intention of assisting businesses in recovering from the terrible consequences of COVID-19. It also positively encourages the growth of the business by reducing the cost of running a business. Businesses or not-for-profit organisations only are required to apply for the rebate once but can continue submitting multiple claims until the total value of $1,500 has been redeemed.
These redeemed funds can be used to offset the costs of accepted NSW and government charges. This would be inclusive of:
- Food authority licenses
- Liquor licenses
- Tradesperson licenses
- Event fees
- Outdoor seating fees
- Council rates
Note that these rebate fees cannot be used to pay off fines or penalties, or fees and charges that hold the sole purpose of discouraging behaviours or encouraging behaviour changes, Commonwealth government charges, rent on government premises, or taxes.
The rebate will be available to all businesses until the 30 June 2022.
How do I know if I am eligible?
There is a certain criterion that your business must abide by to be eligible:
- Be registered for goods and services tax (GST)
- A declaration must be provided that the business has received a turnover of at least $75,000 per year
- The business must hold an ABN registered in NSW and/ or have the premises of the business be physically located and operating within NSW
- There must be a total Australian wage below the NSW Government 2020-21 payroll tax threshold of $1.2 million
Just note that…
Only one $1,500 rebate can be claimed for each ABN. However, not-for-profit organisations do not require GST but still must demonstrate a turnover of more than $75,000 per year.
What do I need to apply for this rebate?
- MyServiceNSW account to access the latest news and also to put in an application
- A valid proof of identification (this includes but is not limited to an Australian driver’s license, Medicare card, Australian passport, Australian birth certificate)
- A valid ABN/ ACN
- The bank details of your business to receive the payment
- For not-for-profit organisations, an accountant’s letter must also be submitted which verifies a turnover of more than $75,000 per year
What should I do now?
If your small business fits within the criteria as listed above, be sure to apply for the rebate offered by the government so that COVID-19 doesn’t stop you from what you love doing the most!
How can we help you?
If you are unsure of what to do or where to start, we can assist you with any queries you may have!
Call us today for a free discussion with Fabiana Silva, a registered Bookkeeper and BAS Agent.
Read more about Fabiana and Focus Bookkeeping.