GM Tax

WA COVID-19 Economic Support Measures

Has your business been affected by the recent snap lockdowns announced in WA?

If so, please see below for the support tax free measures available to you and your business should you be eligible:

Small Business Lockdown Assistance Grant:  Round 1

Eligible Small Business may be entitled to a Lockdown Assistance Grants of $2,000 where they have

  • a small business in the Perth and Peel region within industry sectors which have been most severely impacted by the lockdown and restrictions.

Applications for this grant have now closed.

 

Small Business Lockdown Assistance Grant: Round 2

 

Applications for this grant have now closed. 

Summary of Government assistance

Eligible businesses may be entitled to a $3,000 grant where they have (among other eligibility criteria):

 

  • an annual turnover of at least $75,000 and are registered for GST;

 

  • an Australia-wide payroll of less than $4 million in the 2020 financial year;

 

  • suffered a defined financial loss or a 30% turnover reduction as a direct result of the lockdown period and be primarily operating in an industry significantly impacted by the lockdown.

    Assistance grants for WA tourism businesses impacted by COVID-19

Eligible tourism businesses including tourism operators, accommodation providers and travel agents will be able to apply for grants of up to $10,000 to assist with the financial impacts resulting from much of the country being under significant COVID-19 restrictions in recent months.

Applicants must demonstrate at least a 30 per cent reduction in turnover by comparing the period 15 May – 25 June with 10 July – 20 August to be eligible for support.

The following funding amounts will be made available to eligible businesses:

  • $2,000 grant for all sole traders and for employing businesses with an annual turnover between $50,000 and $100,000
  • $5,000 grant for employing businesses with an annual turnover between $100,000 and $1 million
  • $10,000 grant for employing businesses with an annual turnover between $1 million and $10 million

Businesses must also have an active and valid ABN and be located in Western Australia.

Applications close 30 September 2021.

Further information can be found https://www.wa.gov.au/organisation/department-of-the-premier-and-cabinet/covid-19-coronavirus-support-business

If you would like assistance please complete our online enquiry via our contact us button or by calling a GM Tax office closest to you.

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