The Commonwealth and the Australian Capital Territory (ACT) Governments are working together to extend the COVID-19 Business Support Grants in line with the extension of the ACT lockdown to 2 September.
The ACT COVID-19 Business Support Grants will deliver support of up to $10,000 for employing businesses and $4,000 for non-employing businesses over the three week lockdown period where those businesses' turnover has declined by 30 per cent or more as a result of the COVID-19 health restrictions.
Businesses must be registered in the ACT and able to demonstrate their primary operation in the ACT, have an annual turnover of more than $75,000, be registered for GST and have a total payroll of less than $10 million. They will also need to provide evidence of a 30 per cent reduction in their turnover.
The package will be split on a 50/50 basis between the Commonwealth and the ACT Governments, with the Territory government to administer the program.
This is a similar arrangement that has been in place for businesses in other jurisdictions impacted by COVID-19 lockdowns.
With news of this extension, the detailed guidelines and the application process are now being finalised and will be made available as soon as possible.
Businesses can register their interest for the grants and the Covid-19 Business Hardship Scheme on the Business Hub website.
Federal Treasurer Josh Frydenberg said the Morrison and ACT governments were working together to ensure households and businesses are supported during this challenging time.
“The Morrison Government recognises the announced extension of the lockdown will have a significant impact on households and businesses in the ACT,” the Treasurer said.
“That is why we are providing the necessary economic assistance in the form of the COVID-19 Disaster Payments for individuals and expanded businesses support along with the ACT Government.”
“This support builds on the $2.1 billion the Federal Government has delivered to households and businesses in the capital.”
Chief Minister Andrew Barr said the extended package would help to keep businesses in business and people in jobs.
“We know that extended lockdowns are particularly hard for businesses, especially those who have been experiencing a downturn in trade for some months due to restrictions interstate, the Chief Minister said.
“The ACT Government will continue to work constructively with the Commonwealth Government to support businesses and keep people in jobs.”
Senator for the ACT Zed Seselja said the Federal Government was committed to supporting the needs of businesses across the Territory at this challenging time.
“Ensuring our support is as accessible as possible is important to provide certainty and confidence for Canberra businesses impacted by this lockdown,” Senator Seselja said.
“The next few weeks will be tough for many businesses and small business owners, and this support together with the Commonwealth's COVID-19 Disaster payment will assist businesses to stay connected with their employees, and be able to reopen and recover as quickly as possible when lockdown ends.”
“The Federal Government remains committed to co-funding additional business support measures on a 50/50 basis with the ACT Government, should they put forward further proposals."
More details are available via www.act.gov.au/business/business-support/covid-19-economic-support-for-business
- Statement ends -
Section: Andrew Barr, MLA | Media Releases