Posted on September 20, 2019
Are you a small business owner employing staff, operating in NSW and not paying payroll tax?
Are you considering employing additional workers this financial year?
If so, the NSW Government has an incentive for you!
The new Small Business Grant is a key priority of the New South Wales Government. The grant applies from 1 July 2015 and 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.
A business will receive the grant if all of the conditions below 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.
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.
Do you want to find out if you are eligible to receive the grant? We are only a phone call away!