The Queensland government have released the eligibility criteria for the Business Support Grants previously announced for businesses that were impacted by the recent lockdowns in Queensland. Applications for the Business Support Grant are now open and all eligible businesses who apply during the application period will receive funding.
Get your application in now!
Online applications are now open, and grants will be processed in the order that they are received, so it is important to get your application in at the earliest opportunity.
To apply online, visit the Queensland Rural and Industry Development Authority and ensure you provide all the relevant supporting evidence: https://applyonline.qrida.qld.gov.au/auth/login
The following eligibility criteria has been announced. Businesses must:
- Employ staff (employees must be on your payroll and does not include any business owners);
- Have an Australian Business Number (ABN) continuously held from 30 June 2021;
- Be registered for GST;
- Have Queensland headquarters (i.e., your principal place of business is located in Queensland) and have been trading in Queensland on 31 July 2021;
- Not be insolvent, or have owners or directors that are insolvent or an undischarged bankrupt;
- Have an annual payroll of not more than $10 million (except for large businesses and not for profit organisations operating in an identified tourism and hospitality sector) during any of the 2018–19, 2019–20 or 2020–21 financial years;
- Have an annual turnover of over $75,000 during any of the 2018–19, 2019–20 or 2020–21 financial years;
- Note: Businesses that have recently started can provide financial records to show they will reasonably meet this turnover requirement in the 2021–22 financial year
- Demonstrate the business or not for profit organisation was directly or indirectly impacted by a lockdown event;
- Demonstrate or declare a reduction in turnover of 30% or more during a nominated 7-day period that includes at least 1 full day of the lockdown events*:
- This must include at least 1 full day of a lockdown event when comparing against turnover achieved during the same 7-day period in July or August 2019; or
- If the 2019 period does not indicate a typical weekly turnover (e.g. for a recently started small business or business that has experienced structural changes), include another comparable period (e.g. the same period in July/August 2020).
For large tourism and hospitality businesses and not for profit organisations, the eligibility requirements also include the following in addition to the above:
- Must ensure they are undertaking business activities in any of the identified tourism and hospitality ANZSIC (Australian and New Zealand Standard Industrial Classification) code industry areas. Refer to the list of eligible ANZSIC codes on the Queensland Government website.
- Must have an annual payroll in Queensland of more than $10 million
50-50 Funding Agreement
In addition to the $5,000 grants previously on offer, the federal government has announced a 50-50 funding agreement with the Queensland government. The new scheme will operate a tiered scale and the amount on offer will depend on the size of the business.
Under the joint Queensland and Australian Government support package, tiered payments based on payroll size for eligible businesses and not-for-profit organisations across Queensland are available.
These include:
- $10,000 grant to employing small businesses and not-for-profit organisations with an annual payroll in Queensland of less than $1.3 million
- $15,000 grant to employing medium sized businesses and not-for-profit organisations with an annual payroll in Queensland between $1.3 million and $10 million
- $30,000 grant to employing large sized tourism and hospitality focused businesses and not-for-profit organisations with an annual payroll in Queensland of greater than $10 million.
Sole-traders will also be included in the program after previously being ineligible under the state government scheme.
Under the joint Queensland and Australian Government package, a $1,000 one-off grant to non-employing sole traders across Queensland has been announced.
If you are a Queensland-based non-employing sole trader who has had a decline in turnover of more than 30% due to the South East Queensland lockdown commencing 31 July 2021, or the Cairns and Yarrabah lockdown commencing 8 August 2021, you may be eligible for a one-off $1,000 grant.
Further information about the eligibility requirements will be available shortly.
Attwood Marshall Lawyers – Supporting local businesses
Attwood Marshall Lawyers is an experienced Property, Business and Commercial Law firm. Our lawyers have the local knowledge and expertise to assist with all your property, business and commercial matters including retail and commercial leasing contracts, partnership, shareholder and unitholder agreements, business and commercial transactions, loans and securities, and all other company law related matters.
If you are unable to visit one of our conveniently located offices on either side of the QLD/NSW border at Kingscliff, Coolangatta, Robina Town Centre, or Brisbane, we offer telephone and video consultations to ensure there is no delay attending to your legal matters.
For professional and trusted advice related to property, business and commercial matters, contact our 24/7 phone line any time on 1800 621 071 or contact Property and Commercial Department Manager, Jess Kimpton, on direct line 07 5506 8214 or email jkimpton@attwoodmarshall.com.au.
The information in this article is correct as of 18th August 2021.
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