The Government has today announced a major boost to the Territory Business Lockdown Payment for businesses that are impacted by a Lockdown for longer than a week.
These businesses will now receive a guaranteed weekly support payment from the Government of between $1000 and $4000 a week.
These payments will apply immediately and retrospectively to more than 130 businesses impacted by the current lockdown in the Katherine region.
It will also apply to every businesses across the Territory going forward that might be impacted by future lockdowns.
To be eligible the business must temporarily cease, suspend or reduce trading as a result of the lockdown and have a drop in revenue that is greater than 50%.
The payment will be measured by turnover to reasonably reflect need for support.
Business Turn Over Payment
$75k-$2m $1,000
$2m-$5m $2,000
$5m-$10m $4,000
The current $1000 Territory Business Lockdown Payment will continue to be available to any business forced to close for a period greater than 2 days.
Businesses in lockdown zones that have already applied and are eligible, will be automatically eligible for the additional Small Business Payment(s).
This $1000 payment is also available to businesses mandated to close for more than 2 days for reasons other than a lockdown, such as being identified as a COVID-19 exposure site and needing a deep clean.
Eligibility criteria for this includes turnover of at least $75,000 and less than $10 million, fewer than 20 FTE employees.
