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The conditions for the NSW jobsaver and micro-business grant are changing.
NSW JobSaver and Micro-Business Grant Changes
For the NSW jobsaver and micro-business grant one fortnight used to be enough. You needed to have one fortnight with a decline of 30% and then qualified you all the way through. Not anymore, as Matthew Addison of ICB – the Institute of Certified Bookkeepers Ltd (ICB) – will tell you in this episode.
To listen while you drive, walk or work, just access the episode through a free podcast app on your mobile phone.
NSW JobSaver and Micro-Business Grant
The NSW JobSaver and Micro-Business Grant are still going. If your decline only happened recently, you can still apply. The deadline is the 18th of October 2021.
After the 18th of October you can no longer apply anymore. The program is finito. But until then all doors are open.
So go through all your clients and check that all of them have applied or don’t qualify. And remember to check for the 30% decline in turnover all the way from 26 June 2021 until now. The earlier the decline happened, the better – the longer you qualify and receive backdated payments.
26 September 2021
From 26 September 2021 one important thing changes. One fortnight is no longer enough. From 26 September 2021 you will need to have a decline in every single fortnight to continue to qualify. One fortnight is no longer enough.
26 September to 13 October 2021 is first fortnight for which you receive no payments – no JobSaver – no Micro-business grant – unless… you confirm that you suffered a 30% decline in turnover in that fortnight. A decline in comparison to the same fortnight in 2019, 2020 or just before the lockdown started in 2021 – 26th of June 2021.
Before 26 Septemer
Originally you were meant to confirm your decline in turnover already before the 26 September for the two fortnights before. But that seems to no longer be on the table. Now it no longer matters whether you confirmed your decline for those earlier periods or not. All that matters is whether you confirm the fortnight starting on 26 September 2021.
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Disclaimer: Tax Talks does not provide financial or tax advice. All information on Tax Talks is of a general nature only and might no longer be up to date or correct. You should seek professional accredited tax and financial advice when considering whether the information is suitable to your or your client’s circumstances.
Last Updated on 28 September 2021
Tax Talks spoke to Matthew Addison - Executive Director at Institute of Certified Bookkeepers Ltd - for more details.
