small-business-grant-for-hiring-new-employees

What is the purpose of this new small business grant?

The grant is designed to encourage small businesses that do not pay payroll tax to hire new employees and expand their business in New South Wales.

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.

Which businesses are eligible for the new employee grant?

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 yea

What types of employment are eligible?

A business will receive the grant if all the following employment conditions 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.

How can I register for the grant?

You can register for the grant from 1st July 2015 via the Small Business Grant (Employment Incentive) online application. http://www.osr.nsw.gov.au/info/online/sbg

Registration for the grant can be made by an employer who has an active ABN and is NOT registered for payroll tax
within 60 days after the employment commences.

Grant claiming process

You can claim the grant through the Small Business Grant (Employment Incentive) online application. A claim for grant may be lodged within 60 days after the 12 month anniversary date if the employment is eligible employment.

What supporting evidence must I provide to claim the grant?

When you register for the grant, you do not need to provide any supporting evidence. However, you must, provide supporting evidence when claiming for the grant.

Supporting evidence may include but is not limited to:

  • most recent Business Activity Statement (BAS),
  • personnel or wage records
  • workcover records.
  • Payment

How is the grant paid?

The grant is paid by Electronic Funds Transfer when claimed on the 12 month anniversary date of the new job.

For any further details please refer to OSR NSW website: http://www.osr.nsw.gov.au/grants/sbg

For help regarding your eligibility for this small business grant, please call the chartered accountans at our Epping office