NSW Small business grant

By September 24, 2018 September 28th, 2018 Business operations

Looking for a way to truly make 2018 your year – ? Well we found a small business grant that might just end your year on an even more positive note. It’s called the Small Business Grant and if eligible it can help you take your business to the next level.

The Small Business Grant is a key priority of the New South Wales Government.

The grant is designed to encourage the nearly 650,000 small businesses in New South Wales that do not pay payroll tax to hire new employees and expand their business.

The grant amount is $2,000 payable per full time equivalent position as at the anniversary date.

What businesses are eligible?

To be eligible for the grant your business must:

  • have an active ABN
  • not have a payroll tax liability, during the 12 month employment period of a new person as at 30 June of the financial year.

What employment is eligible?

A business will receive the grant if all the following employment conditions are met:

  • A person is employed in a position that is a new job.
  • The employment commences on or after 1 July 2015 and before 1 July 2019.
  • The employment is maintained for a period of 12 months.
  • Your number of full-time equivalent (FTE) employees, prior to creating a new position must increase and be maintained over a 12 month period.
  • The services of the employee are performed wholly or mainly in NSW.

What is a new job?

  • A new job is created if the number of your full-time equivalent (FTE) employees increases and that FTE is maintained over a 12 month period from the creation of the new position.
  • If your FTE falls below the required number, for more than 30 days any time during the 12 months, the Chief Commissioner may refuse to pay the grant.

What types of employment are excluded from the grant?

The employment of a person by an employer is excluded from the grant if:

  • the person engaged by your business is not considered a common law employee
  • the person was employed by the employer claiming the grant in the previous 12 months
  • any wages paid by the employer to the person are exempt wages within the meaning of the Payroll Tax Act 2007. For more information on exempt wages, visit the exempt wages page
  • a grant, subsidy or other assistance is payable to the employer for the employment of the person by the State
  • the employer is the Crown in right of NSW or in any of its other capacities
  • the employer is a public, local or municipal body or authority.

How do I register for the grant?

Registering for the grant will be made available on 1 July 2015 via the Small Business Grant (Employment Incentive) online application.

You are required to register the employment of a person in a position that is a new job and advise us of the number of Full-time Equivalent (FTE) employees immediately before the position was filled.

Registration for the grant can be made:

  • by an employer who has an active ABN and is NOT registered for payroll tax
  • within 60 days after the employment commences.

You can apply through the Small Business Grant (Employment Incentive) online application.

There are many opportunities for small businesses to receive grants in Australia. Whether it is through the government like this grant or private sector there are databases that you can register your business through to provide you with grant notification. A great example of this is https://www.grants.gov.au/ GrantConnect provides centralised publication of forecast and current Australian Government grant opportunities and grants awarded and https://grantguru.com.au/. GrantGuru is a team of grant specialists. They know how grants work, where to find them and how to successfully apply for them. Their team has experience assessing grant applications, advising policy makers and also submitting grant applications. Previously, they have secured over $500 million in grants. Now, they focus on sharing our knowledge, and creating systems so that others can be effective. GrantGuru is built by an Australian business to support Australian business.

What can seem like the ‘all too hard basket’ subject grants are available for all sized businesses in many industries it is just a matter of prioritising your time to enable you to access the money out there. Working Spaces provides you with the location to enable you to meet, run and grow your business in the comforts and surrounds of beautiful Moss Vale. Contact us today to see where in our building you would be best suited.