As the NSW Government progressively lifts the restrictions on movement and business trading, this means businesses can now reopen.
If you’re a small business or not-for-profit that has experienced a decline in turnover, you could be eligible for this Small Business Recovery Grant.
To be eligible, you’ll need to meet specific criteria and apply with Service NSW. Click here to learn more and apply.
FYI: Only businesses from the list of highly impacted industries are eligible to apply.
The grant can be used for the following expenses:
- fit-out changes and temporary physical changes (for example, plastic barriers at checkouts)
- staff training and counselling
- business advice and continuity planning
- cleaning products and additional cleaning services
- additional equipment necessary to comply with social distancing or other public health measures
- marketing, communications and advertising
- digital solutions (for example, e-commerce or business websites).
NEW VIDEO – COVID-19 Changes That Will Affect Your Taxes
Earlier this week, I released a new video to help you understand what you should know and look out for concerning changes made by the ATO as a result of the COVID-19 pandemic.
These changes include:
1. Increase to $150,000 for the Instant Asset Write-Off
2. ATO Leniency towards COVID-Impacted Businesses
3. Increased Tax Audits & Reviews
4. Claiming Home Office Expenses
You can check out the video here.
The $25,000 HomeBuilder Scheme
In case there weren’t enough grants, the Federal Government has also offered eligible Australians a $25,000 grant to build or substantially renovate their homes, known as the HomeBuilder Scheme.
We’ve written up a comprehensive post on exactly what this involves and how you may be eligible.
Check it out here.
As always, if you have any questions or would like to enquire about how the Box team can help, get in touch with me.
Until next time!
Kind regards,
Kind Regards,
Davie Mach CA, B. Comm (Accg & Tax)
Email: dmach@boxas.com.au
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