The Federal and State Governments have issued a range of relief packages to assist with the economic impacts of Covid-19. It can all be quite overwhelming!
Support is available from both the federal and state governments, with the newest of these including support for ACT Businesses given the extended lockdown.
COVID-19 Disaster Payments
70% Vaccination rates
Automatic payments will stop when a state or territory reaches 70% double dose vaccination rates for people 16 years or older.
If your income is still affected by movement restrictions, you’ll need to reapply for the payment each week so we know you remain eligible.
80% Vaccination rates
The first week after a state or territory reaches 80% double dose vaccination rates, COVID-19 Disaster Payment will be:
- $450 if you’re not getting an eligible Centrelink or Department of Veterans’ Affairs (DVA) payment
- $100 if you’re getting an eligible Centrelink or DVA payment.
The second week after a state or territory reaches 80% double dose vaccination rates, COVID-19 Disaster Payment will:
- be $320 if you’re not getting an eligible Centrelink or DVA payment
- end if you’re getting an eligible Centrelink or DVA payment.
After this period, there will be no more applications, even if your area is affected by movement restrictions.
ACT COVID-19 Business Support Grant
In October, an additional ACT COVID-19 Business Grant Extension payment of $20,000 for all employing businesses and $7,500 for non-employing businesses, will be paid to all businesses who were eligible for the COVID-19 Business Support Grant in industries still significantly impacted by the health restrictions.
Additional one-off top-up payments will also be made for larger businesses at the following rates:
- $20,000 for employing businesses with a turnover greater than $2 million and less than $5 million
- $40,000 for employing businesses with a turnover greater than $5 million and less than $10 million
- $60,000 for employing businesses with a turnover greater than $10 million
COVID-19 Tourism, Accommodation Provider, Arts and Events, Hospitality and Fitness Grants
In addition to the COVID-19 Business Support Grants, the tourism, accommodation, arts and events, hospitality and fitness industries will be eligible for an additional one-off grant payment.
Grants will be provided at the following rates:
- $5,000 for non-employing businesses
- $8,000 for employing businesses with turnover less than $2 million
- $15,000 for employing businesses with turnover greater than $2 million and less than $5 million
- $25,000 for employing businesses with turnover greater than $5 million
Businesses that have already applied will not need to reapply. The extension payments will be automatically applied if you are eligible. Businesses that have already been paid also do not need to reapply, those that are eligible will automatically receive the extension payment.
In order to receive extension or top-up payments you must have applied for a Business Support Grant by 7 October.
You can find out more about this program, along with a breakdown of other Federal and State support measures by reading our Snapshot of Covid-19 Assistance which has all the relevant links for your convenience.
As always, if you have any queries please contact us.
The Halletts team