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.
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.
Conditions for receiving the grant
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.
Once you hire an employee in a position that is a new job you are required to register with the NSW Office of State Revenue (OSR) within 60 days after the employment commences.
Payment of the grant
The grant is a one off payment per new position and is paid when a claim is made on the 12 month anniversary of when the position was created. For full-time employees the grant amount is $2,000.
If you need help with registration for Small Business Grant or other small business issues please contact the experienced team of lawyers and accountants here at The Quinn Group. Submit an online enquiry or call us on (02) 9223 9166.