New Business Assistance Package unveiled in WA

To assist small businesses with cash flow and support safe trading, a new COVID-19 Business Assistance Package has been announced for Western Australian businesses adversely affected by increasing COVID-19 cases in the community.

The Government package includes rent relief, outdoor dining and entertainment support grants, as well as further funding for business counselling services.

The new support, consisting of eight tailored packages, is in addition to the $77 million Safe Transition Industry Support Package released earlier in February.

Small Business Rental Relief Package

Small business tenants can apply for rental relief grants of up to $3,000 (based on $500 per week for 6 weeks).

To be eligible for the Rent Relief small business must meet the following criteria:

• Have an annual turnover of more than $50,000.
• Have a valid and active Australian Business Number (ABN).
• Have an Australia-wide payroll of less than $4 million.
• Be able to demonstrate a 30 per cent reduction in revenue for any six-week consecutive time frame between 1 January 2022 to 30 April 2022, compared to the equivalent period in 2021.
• Provide proof of tenancy (lease) in WA (excluding Government tenants).

Applications will be managed by the Small Business Development Corporation and more details will be available soon.

Landlord Rent Relief Incentive
 

Landlords who voluntarily match the Government’s Tenant Rent Relief payments of $3,000 per tenant will be eligible for an incentive payment of $1,500. Eligibility criteria includes:

• Landlords have provided rent relief of $3,000 to small business tenants that:
  • experience a 30 per cent reduction in revenue for any six-week consecutive time frame between 1 January 2022 to 30 April 2022, compared to the equivalent period in 2021;
  • with the tenanted premises located in WA.
  • Have a valid and active Australian Business Number (ABN).
  • Have an Australia-wide payroll of less than $4 million.
  • Have a tenanted premises located in WA.

Applications will be managed by the Small Business Development Corporation and more details will be available soon.

Tenant Rental Credit Scheme (Government tenants)

Business tenants of Government buildings (including Government Trading Enterprises) will be offered rent relief of $6,000 provided they meet the following criteria:

• Have an annual turnover of more than $50,000.
• Have a valid and active Australian Business Number (ABN).
• Have an Australia-wide payroll of less than $4 million.
• Be able to demonstrate a 30 per cent reduction in revenue for any six-week consecutive time frame between 1 January 2022 to 30 April 2022, compared to the equivalent period in 2021.
• Provide proof of tenancy (lease) of a WA Government-owned building in WA.

Relevant agencies will deliver this grant directly to tenants through a rental waiver/credit process. No application is necessary.

Outdoor Dining and Entertainment Support Package

Alfresco support package

Small businesses in the hospitality sector may be eligible for up to $5,000 reimbursement of eligible costs associated with creating and expanding an alfresco area to meet the requirements of public health and social measures.

Eligibility criteria include:

• Have an annual turnover of more than $50,000.
• Have a valid and active Australian Business Number (ABN).
• Have an Australia-wide payroll of less than $4 million.
• Operate in the food and beverage industry.
• Have a local government approved alfresco plan.

Applications will be managed by the Department of Local Government, Sport and Cultural Industries and more details will be available soon.

Nightclub Assistance Program

The Nightclub Assistance Program will provide payments of up to $50,000 for eligible nightclubs impacted by capacity limits and social distancing. Payments will be based on the nightclub’s licence capacity limit. To be eligible, nightclubs must:

• Be able to demonstrate a 30 per cent reduction in revenue for any six-week consecutive time frame between 1 January 2022 to 30 April 2022, compared to the equivalent period in 2021

Applications will be managed by the Department of Local Government, Sport and Cultural Industries and more details will be available soon.

Other business support

• $1 million Small Business Financial Counselling and Advisory Services funding to expand small business support services administered by the Department of Communities.

Contact TaxAssist Accountants

If you need any help or advice with the financial aspects of running your business, please contact us today on 08 6245 7506 or complete our contact form. We’ll be glad to help.

Last updated: 9th July 2022