COVID-19 Business Support Grants – Queensland
**Updated with information released 17 August 2021. As this seems subject to change you should rely on information published directly by the government**
What’s on offer
$10,000 (excluding GST) grants will be available to eligible small and medium businesses (and up to $30,000 depending on the size of your business).
The grant may be used for business expenses.
Complete grant applications will be processed in order of receipt and Grant funds will be paid within two weeks of approval.
Businesses who get the grant must agree to complete an acquittal survey within 3 – 6 months after approval of their application and funding being transferred to their nominated bank account. Failure to do so may impact on eligibility for future grant programs.
Applications close 16 November 2021.
In simple terms your business must:
- employ staff (does not include any business owners)
- have an Australian Business Number (ABN)since 30 June 2021
- be registered for GST
- have Queensland headquartersand have been trading in Queensland on 31 July 2021
- not be insolvent, or have owners or directors that are insolvent or an undischarged bankrupt
- have an annual payroll of not more than $10 million
- have an annual turnover of over $75,000during any of the 2018–19, 2019–20 or 2020–21 financial years
- demonstrate the business or not for profit organisation was directly or indirectly impacted by a lockdown event
- demonstrate or declare a reduction in turnover of 30% or moreduring a nominated 7-day period
The devil is in the detail so Business Qld have a detailed list of eligibility criteria and an “Eligibility Tracker” tool. For all the details visit: https://www.business.qld.gov.au/starting-business/advice-support/grants/covid19-support-grants
Who’s not eligible
- Businesses and not for profit organisations located outside of Queensland.
- Businesses and not for profit organisations whose only source of income is made up of rents, dividends and/or interest
- A person applying for an eligible business or not for profit organisation that has already received a grant under this program (ie. only one grant will be approved for an eligible business).
- Businesses and not for profit organisations eligible to receive income support through the Australian Government’s COVID-19 Disaster Payment will not be eligible. For further information on the COVID-19 Disaster Payment at – https://www.servicesaustralia.gov.au/individuals/services/centrelink/covid-19-disasterpayment
How to check your drop in turnover
Xero has again come to the rescue.
If you click on Accounting then Reports you’ll see “Covid-19 Business Support” in the Tax Section of the Reports Screen. Xero has these instructions here: https://central.xero.com/s/article/COVID-19-Business-Support#Usetheturnovercalculator
You can use this report to determine your turnover drop.
When & how to apply
Applications are open now and you need to apply online with supporting evidence through the Queensland Rural and Industry Development Authority (QRIDA) portal affectionately known as the QRIDA.
If you do not have a QRIDA profile you will need to create one.
You’ll need to provide proof along with your grant application. Again, put simply this includes:
- business financial statements
- business payroll records and/or payroll tax return information
- BAS statements or Australian Taxation Office records
If you’re a Xero user you can get all these reports easily. If you need assistance generating your Xero reports then take a look at these helpers:
- How to generate a balance sheet: https://central.xero.com/s/article/Balance-Sheet-New#Newversion
- How to generate a profit & loss report: https://central.xero.com/s/article/Profit-and-Loss-New#Newversion
- How to generate your payroll employee summary report: https://central.xero.com/s/article/Payroll-Employee-Summary-report
If you haven’t kept copies of your BASs, you can get copies of the BASs you’ve lodged via your login with the ATO’s Online Services.
What about the template letter an accountant can provide?
It looks like the letter requires us to do a mini audit or review of your affairs to provide this letter. As you know we don’t offer these services so we are investigating options.
We strongly recommend you don’t wait for us and put through your application otherwise you might miss out.
Applications close 16 November 2021.
You access guidelines for applying for the grant as well as FAQs on their page: https://www.business.qld.gov.au/starting-business/advice-support/grants/covid19-support-grants
What other support can I seek?
The eligibility criteria indicates that if business owners are the only people on a business payroll the business is not eligible for the Grant.
You may be eligible for the Covid-19 Disaster Payment which is looked after by Centrelink. Find more information here.
SOLE TRADERS WITH NO EMPLOYEES
A $1,000 one-off grant to non-employing sole traders across Queensland If you are a Queensland-based non-employing sole trader who has had a decline in turnover of more than 30% due to the South East Queensland lockdown commencing 31 July 2021 or the Cairns and Yarrabah lockdown commencing 8 August 2021, you may be eligible for a one-off $1,000 grant.
Further information about the eligibility requirements will be available shortly. Register your interest here.