The WA State Government recently announced Level 2 Support packages for businesses most impacted by Level 2 public health measures which were introduced on March 3rd.
The packages includes a $66.8 million Small Business Hardship Grants Program, $2.8 million of payroll tax relief for large hospitality businesses, and $2.1 million COVID-19 Commercial Sporting Franchises Support Program.
To be eligible for the Small Business Hardship Grants, businesses must:
- Have a valid and active Australian Business Number (ABN).
- Have an Australia-wide payroll of less than $4 million.
- Have an annual turnover of more than $50,000—excluding GST.
- Demonstrate a 50 per cent reduction in revenue for any two-week consecutive period between 1 January 2022 to 30 April 2022, compared to the equivalent period in 2021.*
* An alternative period in 2021 may be used if the business did not operate at that time or it provides an inaccurate representation of the business’ financial situation.
Eligible applicants will receive a tiered grant payment, dependent on the number of Full Time Equivalent (FTE) employees of the business. The business owner is excluded from the FTE calculation.
Grants Available:
- Non-employing businesses (business owner – no additional employees) – $3,000
- Micro businesses (business owner, plus one to five employees) – $7,500
- Small Businesses (business owner, plus six to 19 employees) – $20,000
- Medium Businesses (business owner, plus 20 or more employees) – $50,000
The program is open to all eligible businesses that meet the criteria.
The Level 2 Support Package also includes a three-month Payroll tax waiver for Larger hospitality business. This will apply to hospitality businesses that have payroll of between $4 million and $20 million who have experienced at least a 50 per cent drop in turnover over any four week period between January 1, 2022 and April 30, 2022, comparable to the same period last year. If your business meets these criteria, please contact your advisor.
These packages are additional to the Level 1 Support Packages which were announced prior.
Level 1 Support Packages Include:
- Small Business Rental Relief Package
- Outdoor Dining and Entertainment Support Package
- Small Business Assistance Grant – December 2021
In early February they announced the $77 million Safe Transition Industry Support Package to provide support for sectors that were significantly impacted by the delay to WA’s borders reopening.
The package includes nine support programs for the events, tourism, aviation and international education sectors. Event Organisers, International Students and Travel Agents are some groups who are eligible for support.
Prior to your application for any of the Industry Support Packages, we recommend you set up your MyGovID—if you have not already done so. This will help streamline your application process.
For more information about the packages and to find out if your business is eligible, visit the Small Business Development Corporation website or contact your advisor.