Covid financial support for business

A Hardship Review Panel has been established by the State Government to consider financial support for businesses  that do not qualify for current covid business support measures.

The panel will assess on a case-by-case basis businesses which did not meet the eligibility requirements for the 2021 covid Business Grant, Micro-business Grant and JobSaver payments.

To prove financial hardship, you must demonstrate that:

  • your business is at imminent risk of closure,
  • you are unable to pay for operating costs, such as rent or worker-related expenses, and/or
  • you will be forced to reduce employee headcount.

The Review Panel will include representatives from Revenue NSW, NSW Treasury and Service NSW and will make recommendations on businesses’ eligibility for relevant support payments and grants.

It will consider a broad range of factors in determining whether a business has experienced financial hardship, with the Chief Commissioner of Revenue NSW to be ultimately responsible and make the final determination for applications.

Factors that the hardship panel will consider include, for example, whether the business is an employer, in a highly impacted industry, in an LGA of concern or has unavoidable costs for which no other support is available.

Businesses will be back paid to the fortnight where they can demonstrate the required decline in turnover with the Panel.

Hardship applications for JobSaver are now open with hardship covid business grants and microbusiness grants to open later this month.

More information  here- opens in new tab here.

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