As a result of South Australia’s current COVID-19 lockdown and the loss of income many small and medium sized businesses will face, the Government of South Australia has offered emergency cash grants including the Small Business Cash Grant of up to $3,000.
The Government of South Australia announced a Small Business Cash Grant of up to $3,000
*To be eligible for the one-off $3,000 emergency cash grant, a business must, as at 12:01am Tuesday 20 July 2021:
· Be located within South Australia
· Have an annual turnover of $75,000 or more in 2020-21 or 2019-20, and be registered for GST
· Employ people in South Australia
· Have an Australia-wide payroll of less than $10 million in 2019-20
· Have a valid Australian Business Number (ABN)
· Experienced at least a 30 per cent reduction (compared to the week prior) in turnover due to the restricted trading conditions
**To be eligible for the one-off $1,000 emergency cash grant, a non-employing business must meet the criteria listed above excluding the requirement to employ people.
*** Businesses not registered for GST
The Government has been advised, and is seeking to confirm with the Commonwealth Government, that the vast majority of microbusinesses not registered for GST will be eligible for the COVID-19 Disaster Payment of $600/$375 per seven-day period.
More information, including how to claim the Commonwealth COVID-19 Disaster Payment (including the matching income support payment for eligible SA individuals outside the Commonwealth declared hotspots) will be available on the Services Australia website soon.
Yield Business Advisory
Yield Business Advisory has a team of qualified experienced professionals to guide clients through the many challenges they may face.
We offer comprehensive business advice and financial solutions, and can assist in the following areas:
- Business and product profitability reviews
- Analysis of key performance indicators
- Analysis of industry benchmarking
- Assist with the purchase and sale of a business
- Bank finance and funding reviews
- Employer obligations
- Business restructuring
- Strategic planning
- Asset protection strategies
- Business valuations.
- Family and business succession and estate planning
Contact us today to see how we can help you and your business.
Phone: 08 8562 4332
Email Yield Business Advisory