The NSW government recently updated eligibility requirements for its JobSaver cash flow support program and Micro Business grants.
The changes require businesses to reaffirm their eligibility each fortnight by completing a turnover declaration in order to continue receiving payments.
This week, Service NSW clarified exactly how businesses and financial advisors can re-confirm eligibility for these payments.
Closed businesses are not required to perform a decline in turnover calculation. All they need to do is select ‘yes’ on the online form.
Businesses that continue to trade have a few options to determine the best comparison period for their decline in turnover calculation.
One option is to use the same year as the initial comparison period and the same corresponding fortnight as the current fortnight, if the initial comparison period was in 2019 or 2020.
Another option is to use the same period as your initial comparison period if the business used the June 12 to June 15 option.
According to Service NSW, businesses will receive their payment within five business days of reconfirming their eligibility.
For businesses operating on a fortnightly business reporting cycle, they can choose to delay their reconfirmation declarations.
Those businesses can log on to their MyServiceNSW Business Profile at a convenient time to view the fortnights with outstanding turnover declarations.
Service NSW has also clarified that JobSaver recipients must re-confirm their eligibility for the fortnight starting September 13.
Businesses that don’t re-confirm their eligibility for that fortnight will still receive their payment, but they won’t be able re-confirm their eligibility going forward.