The Federal Treasurer and the ACT Chief Minister have issued a joint media release advising that the COVID-19 economic support measures have been expanded due to the extension of the lockdown in the ACT. The extension is currently due to run to 17 September 2021.

See below for further details.

[Tax Month – August 2021]

 


 

The Commonwealth and the Australian Capital Territory (ACT) Governments have worked together to expand the COVID-19 Business Support Grants with the extension of the ACT lockdown to 17 September.

Reflecting the extension of the lockdown, the one-off ACT COVID-19 Business Support Grants will be increased by $10,000 for employing businesses and $3,500 for non-employing businesses where those businesses’ turnover has declined by 30 per cent or more as a result of the COVID-19 health restrictions.

Businesses must be able to demonstrate their primary operation in the ACT, have an annual turnover of more than $75,000, be registered for GST and have a total payroll of less than $10 million. They will also need to provide evidence of a 30 per cent reduction in their turnover.

The package will be split on a 50/50 basis between the Commonwealth and the ACT Governments, with the Territory government to administer the program.

This is a similar arrangement that has been in place for businesses in other jurisdictions impacted by COVID-19 lockdowns.

The payments that were originally offered for ACT businesses have been increased. The release states that the one-off ACT COVID-19 Business Support Grants will be increased by $10,000 for employing businesses and $3,500 for non-employing businesses where those businesses’ turnover has declined by 30% or more as a result of the COVID-19 health restrictions.

This is the third announcement of ACT support measures in the last month, ie this is constantly changing and those affected should check the ACT Government Business Hub website. Treasury also has a useful webpage setting out support for businesses and employers, which provides details and links on a State-by-State basis.

[Source: joint media release; LTN 167, 31/8/21]

 

 

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