Rental relief for WA small business in new assistance package

• Business News

A Tenant Rental Relief scheme is included in the new COVID-19 Business Assistance Package announced for Western Australian businesses.

This level 1 package targets businesses negatively impacted by growing COVID-19 cases in the community and the health and social restrictions that are a direct repercussion of this.

Small Business Rental Relief package

As part of the Rental Relief scheme, small business tenants can apply for rental relief grants of up to $3000 (based on $500 per week for 6 weeks).

To be eligible for the Rent Relief, small business must meet the following criteria:

• Annual turnover of more than $50,000.
• Valid and active Australian Business Number.
• Australia-wide payroll of less than $4 million.
• Show a 30 per cent reduction in revenue for any six-week consecutive time frame between 1 January 2022 to 30 April 2022, compared to the equivalent period in 2021.
• Provide proof of tenancy (lease) in WA (excluding Government tenants).

Business tenants of Government buildings (including Government Trading Enterprises) will be offered rental relief of $6,000 given they meet the above criteria.

Landlord Rent Relief Incentive

The new rental relief scheme also incentivises Landlords who match the government’s $3000 grant.

According to the Small Business Development Corporation, Landlords who voluntarily march the Tenant Rent Relief payment will be eligible for an incentive payment of $1500.

To receive this payment:

• Landlords provided rent relief of $3,000 to small business tenants that experienced a 30 per cent reduction in revenue for any six-week consecutive time frame between 1 January 2022 to 30 April 2022 (compared to the equivalent period in 2021).

Other eligibility criteria includes:

• The tenanted premises is in WA.
• Have a valid and active Australian Business Number (ABN).
• Australia-wide payroll of less than $4 million.

How to Apply

Applications are managed by the Small Business Development Corporation. For more information click HERE.

Find out more

To learn more contact Elevate Accounting on 08 9460 1040 or book your obligation free appointment online HERE.