Insights – Qld COVID-19 Business Support Grants
Although Queensland has fared better than our Southern states, mandated lockdowns have still impacted significantly on local businesses.
In response, the government has released the Covid-19 Business Support Grants to provide financial support for those impacted.
While the grant was originally valued at $5,000, additional funding from the Federal government has now boosted this to $10,000.
To be eligible a business must have:
-an ABN held from 30 June 2021.
-Queensland headquarters and have been trading on 31 July 2021.
-annual turnover over $75,000 in either 2019, 2020 or 2021 and be registered for GST.
-annual payroll in Qld of less than $10 million – this must include employees other than the business owner.
-have experienced 30% reduction in turnover as a result of lockdown when comparing any 7 day period (including at least 1 day of lockdown) to the same period in 2019. Where 2019 is not a truly representative comparison due to restructure or other changes you can compare to 2020 year or another more relevant period.
Applications will remain open until 16 November and all eligible applicants will receive funding.
Apply online through QRIDA portal Login – Portal (qrida.qld.gov.au)
For full details and to apply visit: 2021 COVID-19 Business Support Grants | Business Queensland
If you are unsure if you are able to apply, Alto Advisors can assist with understanding your eligiblity and confirming a 30% income drop.
Author: Donna Bruce