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Bookkeeper Radio: COVID Grants

A Detailed Analysis of the New COVID Grants!

Once again, COVID-19 rears its head and has seen many States and Territories plunged into lockdown or travel restrictions imposed on short notice.

The business community (along with many workers) are hurting financially, which has resulted in State Governments and the Federal Government working together to consider what financial support can be provided and by who.

Unlike Jobkeeper and Boost which were controlled by the ATO, each State is now starting to set their own eligibility criteria and rules, which can make it a bit daunting to understand who is eligible, what funding is available and how do you get access to it.

In this critical episode of Bookkeeper Radio, Kelvin and Peter will take a detailed look at the eligibility criteria and grant funding that is currently available from the Commonwealth and various State Governments.

Detail detail detail; this episode will cover:

  • The different grants on offer (individual and business)
  • Eligibility criteria
  • Evidence required to support a funding application
  • Do I need a supporting BAS Agent or Accountants Letter
  • How to calculate the decline in turnover for the various grants
  • Do I use cash or accrual
  • How to account for the funding in the clients books

Bonus Additional Resources:

  • Grant Fact Sheets (Commonwealth Covid 19 Disaster Payment, NSW Covid Business Grant, NSW Job Saver Grant)
  • Supporting BAS Agents Letter Template (3 separate letters for each NSW Grant)
  • List of “Highly Impacted Businesses”
  • ATO Accounting treatments
  • Frequently Asked Questions
  • Session Slides

In addition, Peter and Kelvin will be joined by guest John Shepherd from the Australian Bureau of Statistics about the impact these snap lockdowns and travel restrictions have on business and the economy. 

Join now to register for this episode!

03 Aug 2021
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