The NSW Government have released a new small business grant that is in place from April 2021 until 30 June 2022. The grant is to relieve eligibly businesses of some of the licence fees and charges that the NSW government impose on businesses.
Before you get too excited, although the grant is for $1500, it is not money that will get put into your bank account. If eligible, you will receive a credit of $1500 in your Service NSW account and you can use this credit against future charges. You do not need to use it all at once. You can just take up the credit as the licence fees are levied on your business.
To be eligible you need to have an ABN that is registered or physically located in NSW. Your total Australian wages need to be under $1.2 million (the NSW Payroll tax threshold). You need to be registered for GST and your turnover needs to be over $75,000 per year. You will require a confirmation letter from your accountant prior to lodging your application. Sole traders are eligible for this rebate, you do not need to be employing staff.
While an extensive list of applicable licence fees and charges is not provided, the website says that the rebate is eligible for any state government fees and charges, with the exception of those specifically excluded. Remember this is just for state government charges, not to be confused with the federal government charges.
Excluded fees and charges include fines and penalties, NSW or Commonwealth taxes, rent on government premises and fees and charges that are designed to discourage or induce behaviour changes (such as parking space levies or clean up notices). For the full list of exclusions I suggest you read the scheme guidelines at the link below.
https://www.service.nsw.gov.au/small-business-fees-and-charges-rebate-guidelines#eligible-businesses
Included are trade licences, food authority licences, council rates and it would seem business registered motor vehicle registrations.
This is definitely worth looking into if you are an eligible small business or not for profit organisation. Like other state government grants, they are heavily audited and you will need to have all your documents ready when you make the application, so read the guidelines and get your paperwork together, and if you are comfortable that you comply, go ahead and make the application.
https://www.service.nsw.gov.au/small-business-fees-and-charges-rebate#eligibility
Please note if you are a client of Jigsaw Tax we will be charging a nominal fee to prepare the letter for this application.
