New set of difficulties to provide more companies with Covid financial support
The panel will assess on a case-by-case basis companies that did not meet the eligibility requirements for 2021 COVID-19 Business Grant, Micro-business Grant and JobSaver payments.
Finance and Small Business Minister Damien Tudehope said the review panel would help businesses facing genuine financial hardship that were previously not eligible for support payments and grants.
âCOVID-19 has affected so many businesses in NSW and although we have a number of support measures in place, some businesses are still experiencing serious financial hardship and are not eligible for assistance for a a number of reasons. We want to close this gap as much as possible, âsaid Tudehope.
The review committee will include representatives from Revenue NSW, NSW Treasury and Service NSW and make recommendations on the eligibility of businesses for relevant support payments and grants.
He will look at a wide range of factors to determine if a business has experienced financial difficulty, with NSW’s Chief Revenue Commissioner ultimately responsible and making the final decision on claims.
âMy message to small businesses is this – no matter which corner of the state you are in, we will be there with you as you navigate this global health pandemic,â Tudehope said.
Factors considered by the hardship panel include, for example, whether the company is an employer, in a heavily affected industry, in an LGA of concern, or has unavoidable costs for which no other support is available.
Companies will be reimbursed until the fortnight when they can demonstrate the required decrease in turnover to the Panel. Hardship applications for JobSaver are now open with grants for COVID businesses and grants for micro businesses opening later this month. More information on difficult applications are available.