4 February 2022
The Territory Labor Government is delivering additional support for Territory businesses, and will re-open the Business Hardship Register to support Territorians suffering a downturn in trade during the Omicron wave.
The Territory's Business Hardship Register was first introduced in the early stages of the COVID-19 pandemic in 2020.
Eligible businesses are those who have experienced a 40 per cent reduction in turnover, and for the first three months of this year, can apply to:
· Have their payroll tax waived (if they have a payroll below $5 million);
· Receive a one-off grant of $3,000 for employing businesses, and $1,000 for sole traders; and
· Have their regulated utility bills reduced by 30 per cent.
The newly targeted hardship register will provide assistance to businesses that meet the following criteria. They must:
· Be a Territory enterprise;
· Be actively trading with an annual turnover of at least $75,000 and less than $10 million; and
· Demonstrate a 40 per cent reduction in turnover in December 2021 or January 2022 compared to the equivalent period in 2019-20.
The package is designed to help reduce costs for local businesses to keep them open and operating, and ensure Territorians stay in jobs and continue working.
Applications open 10am Monday 7 February 2022.
