COVID-19 Business Support Grants available in Queensland

The Queensland Government recognised the short interval between lockdowns in Queensland, and the unique circumstances faced by regional economies who are impacted by multiple border closures. Grants are now available to provide cash flow support for businesses to help them adapt to evolving circumstances.

The grants are available to SMEs across Queensland that have experienced at least a 30 per cent reduction in turnover as a result of lockdown. To be eligible, the business must have an annual turnover of more than $75,000 and an annual payroll in Queensland of up to $10 million, with the grant used for business expenses.

Additional Package announced

The value of the Queensland COVID-19 Business Support Grants rose from $260 million to $600 million on 13 August following an agreement with the Federal Government.

Queensland Treasurer and Minister for Investment, Cameron Dick, said: “From Monday 16 August, our $5000 COVID-19 Business Support Grants program will be open to businesses across Queensland, but this agreement with the Federal Government is in addition to that and means that we will be able to extend our support even further.”

As part of the package, additional support for businesses that had a decline in turnover of more than 30% will include:

• A $1,000 one-off grant to non-employing sole traders across Queensland
• Tiered payments based on payroll size for all businesses across Queensland:
  • A $10,000 one-off, top-up grant to small business with payroll of less than $1.3 million
  • A $15,000 one-off, top-up grant to medium sized business with payroll between $1.3 million and $10 million
  • A $30,000 one-off, top-up grant to large sized tourism and hospitality focused businesses with payroll of greater than $10 million.

Eligibility criteria
 

The grants provides support to employing small and medium businesses across Queensland impacted by:

• the South East Queensland lockdown that commenced on 31 July 2021
• the Cairns and Yarrabah lockdown that commenced on 8 August 2021
• any further Queensland lockdowns in August 2021.
   

Your business doesn't have to be located in local government areas subject to lockdown restrictions, but you must have experienced at least a 30% reduction in turnover as a result of the lockdown.

Grants are also available for large businesses in the hospitality and tourism sector operating statewide, subject to meeting eligibility criteria.

Small and medium businesses are defined as having:

• a turnover of more than $75,000 per annum
• an annual payroll in Queensland of up to $10 million.

Local government areas subject to lockdown restrictions are:
 

• Brisbane City Council
• Cairns Regional Council
• Gold Coast City Council
• Ipswich City Council
• Lockyer Valley Regional Council
• Logan City Council
• Moreton Bay Regional Council
• Noosa Shire Council
• Redland City Council
• Scenic Rim Regional Council
• Somerset Regional Council
• Sunshine Coast Regional Council
• Yarrabah Aboriginal Shire Council.

How to apply

You will need to apply online with supporting evidence and grants will be processed in the order they are received. You will be paid the grant funds within 2 weeks of being notified that your application has been approved.

Applications for the 2021 COVID-19 Business Support Grants opened on 16 August and will close on 16 November 2021 and all eligible businesses who apply for a grant during the 3-month application period will receive funding.

 

Speak to your local TaxAssist Accountant for help and advice with any of the above.

Date published 10 Aug 2021 | Last updated 25 Aug 2021