Lockdown Funding

In light of the recent lockdown affecting most of the SEQ corner, the government (both federal and state) have announced various funding packages to assist businesses + employees.

Whilst details are light at the moment, the following has been announced:

QLD Government 2021 Covid-19 Business Support Grant - $5,000 Grant:

  • One off payment to eligible businesses:

    - Annual turnover of $75,000 or more

    - Payroll of $10m or less

  • Must have experienced a 30% reduction in turnover (awaiting further details on this test)

  • Available to all small/medium businesses across the state, regardless of whether they are in a lockdown area

  • Also available to large hospitality and tourism businesses that do not fit within the above ‘eligible business’ test

More details here - 2021 COVID-19 Business Support Grants for lockdown-impacted businesses in Queensland | Business Queensland

QLD Government 2021 Covid-19 Business Support Grant is not expected to be open until “Mid August”.

Federal Government – Covid-19 disaster payments:

Eligible people will receive the following:

  • $750 per week - if they have lost 20 or more hours of work, or;

  • $450 per week - if they have lost between 8 and less than 20 hours [or a full day’s work]

To get the COVID-19 Disaster Payment, you need to meet all eligibility rules that apply, this includes all of these rules:

  • you're an Australian resident or hold a visa that gives you the right to work in Australia

  • you're 17 years or older

  • you're not getting an income support payment, ABSTUDY Living Allowance, Dad and Partner Pay or Parental Leave Pay

  • you're not getting the Pandemic Leave Disaster Payment, a state or territory pandemic payment or a state small business payment for the same period

  • you’ve lost hours of work and income due to a lockdown in your state and don’t have any appropriate paid leave entitlements.

The Covid-19 disaster payments are being administrated by Services Australia and payments could be made by Sunday. To apply - Do you need to claim the COVID-19 Disaster Payment? - Services Australia

Pandemic Leave Disaster Payment:

The Pandemic Leave Disaster Payment is for those who have been advised by their relevant health authority to self-isolate or quarantine because they:

  • Test positive to COVID-19;

  • Have been identified as a close contact of a confirmed COVID-19 case;

  • Care for a child, 16 years or under, who has COVID-19; or

  • Care for a child, 16 years or under, who has been identified as a close contact of a confirmed COVID-19 case; or

  • Care for a person who has tested positive to COVID-19.

How much is the payment?

The payment is $1,500 for each 14 day period you are advised to self-isolate or quarantine. If you are a couple, you both can claim this payment if you meet the eligibility criteria.

Eligibility

The Pandemic Leave Disaster Payment is available if you:

  • Are an Australian citizen, permanent resident or temporary visa holder who has the right to work in Australia; and

  • Are aged 17 years or over; and

  • Are unable to go to work and earn an income; and

  • Do not have appropriate leave entitlements, including pandemic sick leave, personal leave or carers leave; and

  • Are not getting any income support payment, ABSTUDY Living Allowance, Paid parental leave or Dad and Partner Pay. Income support payments include Age Pension, Austudy, Carer Payment, Disability Support Pension, Farm Household Allowance, JobSeeker Payment, Parenting Payment, Partner Allowance, Special Benefit, Widow Allowance, Youth Allowance and Income Support Supplement, Service Pension or Veteran Pension from the Department of Veterans’ Affairs.

The payment is taxable and you will need to declare it in your income tax return.

If you are uncertain of your eligibility, talk to Services Australia.

If you are concerned about the impact of disaster relief payments on you, talk to us.

Stay Safe QLD – Shake tax, not hands

Get in touch with m+h Private tax specialists today on +61 3036 7174 if you need support for you and your business.

As always, the above is general in nature, and the details may change, please discuss with your trusted advisor.

James Hoeft