Dear Good Tax Accountants (GTA) customers,

Thank you for your ongoing support.

 

Queensland Government announced Small Business COVID-19 Adaption Grant on 19 May 2020 to support Small business. Eligible businesses can receive support grant of up to $10,000.

 

Eligible Businesses

To be eligible, the business must:

  • have been subject to closure or otherwise highly impacted by current shutdown restrictions announced by Queensland’s Chief Health Officer on 23 March 2020
  • demonstrate that business revenue has been significantly impacted since 23 March 2020 over a minimum 1-month period due to the onset and management of COVID-19
  • employ staff and have fewer than 20 employees at the time of applying for the grant
  • have a valid Australian Business Number (ABN) active as at 23 March 2020
  • be registered for GST
  • have a Queensland headquarters
  • have an annual turnover over $75,000 for the last financial year
  • have a payroll of less than $1.3 million
  • not be insolvent or have owners/directors that are an undischarged bankrupt.

 

Eligible business should be included in Non-Essential Business Closure. Following business are included:

  • Registered and licensed clubs, licensed premises in hotels (excluding bottle shops and off license attached to these venues);
  • Gyms, fitness centres and indoor sporting centres;
  • Cinemas, gambling venues including casinos, nightclubs, theatres and entertainment venues of any kind;
  • Restaurants, cafes, fast-food outlets, food courts (together retail food services) except for provision of food or drink by way of provision of takeaway or hotel room service;
  • Theme parks;
  • A place where persons congregate for the purpose of worship or fellowship, including weddings and baptisms;
  • Funerals except where the gathering does not exceed one person per 4 square metres and social distancing, including keeping 1.5 metres between people, can be accommodated.

 

How to apply

To apply, complete the following steps:

  1. read the eligibility criteria
  2. read the application guidelines, terms and conditions and frequently asked questions (FAQs)
  3. apply using the SmartyGrants link:

https://www.business.qld.gov.au/starting-business/advice-support/grants/adaption

 

Grant Payment

Funding will be paid upon approval of your grant application.

Within 1 month of completing the project, applicants must:

  • complete and submit an acquittal report through SmartyGrants
  • submit copies of supplier invoices and proof of purchase for the total project cost.

Grant recipients may be subjected to a random audit by DESBT to ensure that the information provided is true and correct. Where it is found that false or misleading information has been provided, penalties may apply, including refunding to DESBT some or all of the grant funding

 

Available funding

The available grant amount is up to a maximum of $10,000 per eligible small or micro business.

In recognition of the significant impacts of COVID-19 on small businesses, the funding can be used towards the following:

  • financial, legal or other professional advice to support business sustainability and diversification
  • strategic planning, financial counselling or business coaching aligned to business development and diversification
  • building the business through marketing and communications activities, for example, content development (web pages, mobile apps, visual and audio media etc.)
  • digital/technological strategy development
  • digital training or re-training to adapt to new business models
  • capital costs associated with meeting COVID-19 SAFE requirements
  • specialised digital equipment or business specific software to move business operations online (e.g. logistics program for online ordering)
  • meeting business costs, including utilities, rent.

Note: Grant funds can also be used towards any of the above activities occurring from 23 March 2020 onwards, keeping in mind the project must be completed within a maximum of 6 months from the date of approval.

Once the program budget has been fully allocated, applications for the program will close. It is estimated that approximately 10,000 small businesses will be supported through this program.

Applying small and micro businesses must meet the eligibility and assessment criteria to be considered for funding.

 

Should you have any inquiry regarding above matter, please do not hesitate to contact us.

 

Stay safe.

Thank you.