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Financial Support


16 June 2020:

New recovery grants to help small business reopen in a post COVID world

Thousands of small businesses reopening across the State after the COVID-19 shutdown will benefit from funding of up to $3,000 under a new Small Business Recovery Grant. Applications will open on 1 July to help businesses safely relaunch their operations with funds remaining from the $750 million Small Business Support Fund. Read more >

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25 May 2020:

Apply for the small business COVID-19 support grant - Applications Close 1 June 2020 

The NSW Government is providing financial support to ease the pressures on small business as a result of COVID-19. If your small business or non-profit organisation has experienced a significant decline in revenue as a result of COVID-19, you may be eligible for the small business support grant of up to $10,000. This grant supports the ongoing operations of small businesses highly impacted from the COVID-19 pandemic following the NSW Public Health Order of 31 March 2020. Funds may only be used for unavoidable business expenses that are not supported by other government funding. Read more > 

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20 May 2020:


Health infrastructure works fast-tracked in the ACT 

The ACT Government is fast-tracking improvements and maintenance to health service facilities across Canberra as part of the Government’s economic survival package to keep Canberra working through the COVID-19 pandemic. These fast-tracked projects focus on work that can start immediately, be completed by 30 June 2020, support local businesses and keep Canberrans employed. For more information on ACT Government fast-tracked infrastructure projects to support local business, visit www.act.gov.au/fasttrack.

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4 May 2020:


JobKeeper Payment 

You or a registered tax agent can apply for the JobKeeper Payment for your eligible employees:

  • Apply to claim the JobKeeper payment by logging in to the ATO Business Portal External Link
  • Ensure you have paid each eligible employee a minimum of $1,500 per JobKeeper fortnight before tax.

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27 April 2020:

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JobKeeper Payment extension to help business cash flow 
The Australian Taxation Office is extending the time available for businesses to pay their employees, and still be able to claim back the first JobKeeper payments. Businesses suffering from a significant reduction in turnover due to COVID-19 will now have until 8 May 2020 to ensure all eligible employees have received a minimum of $3,000 in gross wages for the first two fortnights of the JobKeeper support period. Read more > 

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24 April 2020:

Applications Now Open: 
Apply for the small business COVID-19 support grant

The NSW Government is providing financial support to ease the pressures on small business as a result of COVID-19. If your small business or non-profit organisation has experienced a significant decline in revenue as a result of COVID-19, you may be eligible for the small business support grant of up to $10,000. This grant supports the ongoing operations of small businesses highly impacted from the COVID-19 pandemic following the NSW Public Health Order of 31 March 2020. Funds may only be used for unavoidable business expenses that are not supported by other government funding. Read more > 

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20 April 2020:

To determine the financial stimulus measures which may apply, every ADA NSW member is encouraged to stay informed and to discuss the range of possible government support available to them with an existing financial advisor. Financial support is available to eligible dental professionals, including both employers and employees, in order to help our members deal with the ongoing impact of COVID-19.

Varied recommendations regarding restrictions on dental services overtime give rise to many rapidly changing and different questions regarding dental business operations and our valued members. Please read and consider our summary of possible financial support available to you before getting the appropriate financial advice on how to ensure you receive your entitlements. Read summary > 
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19 April 2020:
 

NSW Minister for Finance and Small Business has outlined a $14 million injection to Business Connect to support small and medium businesses navigate this challenging time by rethinking their model and boosting their digital communications presence. Read more >
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JobKeeper updates – 16 April 2020:


The Federal Government has now provided more information on the JobKeeper payment. Read more >  

Any dental professional who is a sole trader can find out their eligibility for the JobKeeper scheme here.

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9 April 2020:
ADA Webinar Recording: Commercial leasing and JobKeeper payment explained

Hosted by the ADA this webinar discusses Jobseeker legislation and commercial leasing issues that have arisen due to the impacts of COVID-19. Watch a recording of this enlightening panel discussion touching on critical stimulus opportunities and other business matters. Watch the webinar >

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6 April 2020:

NSW Members
Amendments have been made to two pieces of NSW legislation to assist businesses in New South Wales dealing with COVID-19.

Long Service Leave Act 1955 (NSW)
The Long Service Leave Act has been amended to allow an employer to give a worker with a long service leave entitlement:

  • a period of long service leave that is less than one month if the worker agrees to the lesser period of leave;
  • less than one month’s notice if the worker agrees to that lesser period of notice.

These amendments apply for the next 6 months, and may be extended for a further 6 months if necessary.

Find out more >

Payroll Tax Act 1997 (NSW)
The Payroll Tax Act has been amended to provide that an employer who is liable to pay payroll tax on wages paid or payable for the financial year commencing on 1 July 2019 is only required to pay 75% of the tax if the wages paid or payable by the employer are $10 million or less.

Find out more >
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3 April 2020:
$10,000 grants for small business

Thousands of small businesses across NSW struggling to cope with the COVID-19 shutdown will receive grants of up to $10,000 under a new assistance scheme announced by Premier Gladys Berejiklian, Treasurer Dominic Perrottet and Minister for Finance and Small Business Damien Tudehope.

The NSW Government will put $750 million into the Small Business Support Fund as the centrepiece of a third wave of support measures to keep small businesses afloat.

Find out more >

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2 April 2020:

Economic Survival Package - ACT Government 

The ACT Government is delivering an economic survival package to support the ACT community through the public health emergency caused by the COVID-19 pandemic.

These measures will help small business, protect as many jobs as possible, support Canberra households and support the most vulnerable.

The government will provide all appropriate resources to support ACT public health services to continue providing essential health services to the community and to respond to the additional demands of the COVID-19 pandemic.   

Find out more >

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Australian Government Treasury fact sheets
31 March 2020:

Information on how the Australian Government's economic response could support you can be found in the Treasury's fact sheets. Read now >

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Economic Stimulus package
30 March 2020:

A new wage subsidy package is available from the Federal Government to help businesses deal with the impact of COVID-19. The new wage subsidy system supports businesses to keep employees in their job. Registration requires the employer’s Australian Business Number (ABN). It is available to full and part-time workers, sole traders, and casuals who have been with their employer for 12 months or more. Employers and sole traders will be able to apply to the Australian Tax Office. The payments will flow from the first week of May and be backdated. If employees have been stood down by their employer since March 1, they are still eligible for payments. To be eligible, their payments will need to have fallen by 30 per cent or more. Register for support here > 

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27 March 2020: 

The NSW Government has released the second stage of its economic package aimed at keeping people in jobs and helping businesses stay afloat during the ongoing COVID-19 pandemic. This includes the creation of a $1bn Working for NSW fund to sustain business, create new jobs and retrain employees. The package complements the existing package developed by the Commonwealth and the NSW Government. Read now > 

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26 March 2020: 

Economic Stimulus Package: Article from NSW Dentist 2020 Read now >
Instant Asset Write off: Article from NSW Dentist 2020 Read now >

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25 March 2020:
Economic stimulus advice



A new Nexia COBIZ-19 Podcast is designed to answer all the questions you have about running your business during COVID-19. Watch podcast now >

Submit podcast questions:

If you have a question you would like answered in a future podcast, you can submit questions here.

During this trying time, ADA NSW encourages you to reach out to your regular financial advisory networks. A free 30 minute consult is also available with Nexia for all members, answering specific questions you may have about accessing financial support. Call 02 9251 4600 to speak with our advisors. 

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23 March 2020:
Financial support for dental practices


The Federal government's latest assistance package provides regulatory protection and financial support for businesses and includes help for ADA NSW members to keep operating, pay their rent and bills as well as retain their staff. Read now >
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20 March 2020:
ACT Government Initial Economic Survival Package
The ACT Government is delivering a $137 million economic survival package to support the ACT community through the public health emergency caused by the COVID-19 pandemic. See what support may be available for you on the ACT COVID-19 economic survival package. Read now >

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