Is your business expanding and you’re hiring new employees?
In this week’s episode of Tradie Tuesday, we’ll discuss how your small business may be eligible for the $2,000 Small Business Grant – an initiative of the NSW government.
What is the Small Business Grant?
It is an incentive from the NSW Government to provide assistance to small business when expanding their business by creating new employment opportunities.
When a new role has been active for 12 months the small business is entitled to a cash grant of $2,000 for a full time employee (and pro rata for casual and part time employees).
A small business is defined by the NSW Government as a an entity that isn’t registered for Payroll Tax. In 2017 this is a business with total gross wages of less than $750,000 per year.
What roles are eligible?
All new roles, with employees that haven’t been employed, contracted or receiving Directors Fees by the business claiming the grant for the previous 12 months.
This includes Full Time, Part Time and Casual roles within the business.
How do you apply for the Small Business Grant?
Applying for the grant is a two phase process.
Phase 1: Register the new role
When a new role is created, you have 30 days to register the business for the Small Business Grant.
Phase 2: The 12 month anniversary
The Small Business Grant’s team will automagically send you a reminder to apply within 60 days for the cash grant. YYou’ll need:
- Employee’s last payment summary
- Employee’s last pay slip
To prove the validity of the role, and to show the 12 month period of employment.
Need more information?
You can find out more about the Small Busines Grant here.
If you would like to apply for the grant and need some help contact us here.