COVID-19 business grants expanded after ACT lockdown extension

On Tuesday morning, it was confirmed that the state will remain in lockdown until 17 September, and the federal and ACT governments were quick to act.

The one-off grants will be increased by $10,000 for employing businesses and $3,500 for non-employing businesses where turnover declined by 30 per cent due to the lockdown restrictions.

To be eligible, businesses must have an annual turnover of more than $75,000, be registered for GST and have a total payroll of less than $10 million.

“The Morrison government understands the significant impact extended lockdowns have on individuals and businesses in the ACT,” Treasurer Josh Frydenberg said.

“That is why we have increased our economic assistance through expanded businesses support with the ACT government and continuing the COVID-19 disaster payment for individuals.

“The Morrison government has provided over $66 million of support through the COVID-19 disaster payment to more than 50,000 individuals in the ACT who have been impacted by this latest lockdown.

“This support builds on the more than $2 billion the federal government has delivered to households and businesses in the capital.”

ACT chief minister Andrew Barr added that the grants will serve as a welcome relief for struggling businesses across the state.

“Our lockdown is working, but we are yet to see the public health risk reduce to the point that can safely end the lockdown,” Mr Barr said.

“The COVID-19 business support grant will help businesses suffering from significantly reduced turnover as a result of the necessary health restrictions to keep the transmission potential of COVID-19 below one.”

The ACT lockdown was extended on Tuesday after it reported 13 new virus cases.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.