Level 1 & Level 2 COVID-19 Assistance Packages
Level 1 & Level 2 COVID-19 Assistance Packages
As you may be aware, the state Government has recently announced information on available financial support for businesses affected by COVID-19 and the related restrictions.
In addition to various industry-specific assistance for hospitality, arts-based and tourism businesses, the Level 1 and Level 2 packages also include more wide-ranging measures and may be applicable to you.
Level 1
Eligibility for the Level 1 assistance is underpinned by being able to demonstrate a decline in revenue of 30% or more for any six-week consecutive period between 1 January and 30 April 2022, compared to the equivalent period in 2021. Please refer to the following for more information on these Business Assistance Packages:
https://www.wa.gov.au/government/covid-19-coronavirus/covid-19-business-assistance-package
Level 2
Eligibility for the Level 2 assistance is based on a decline in revenue test of 50% or more for any two-week consecutive period between 1 January and 30 April 2022, compared to the equivalent period in 2021. Please refer to the following for more information on the Business Assistance Packages under the Level 2 program:
In addition to meeting the decline in revenue test, there are other criteria in regards to business size that will determine the amount of assistance available under Level 2, which will include:
- $3,000 grant for sole traders (no employees);
- $7,500 grant for micro businesses (those with one to five employees);
- $20,000 grant for small businesses (those with six to 19 employees); and
- $50,000 for medium-sized businesses (those with 20 or more employees and with an annual payroll of up to $4 million).
Please also note a business can be eligible for more than one assistance program, as long as the relevant eligibility is met under each.
The application process for Level 1 assistance will be open from Friday 11th March 2022, with Level 2 applications to follow in due course.
If you believe your business may be eligible, please visit the Small Business WA website for more information and to submit an application once available - https://www.smallbusiness.wa.gov.au/coronavirus/grants.
We also suggest ensuring your MyGov ID has been set up and active (if not already done), as this will be used as part of the online application process. More information on this can be found at the following website - https://www.mygovid.gov.au/set-up.
If you have any questions in regards to the above please do not hesitate to contact our office.