Key questions about NSW COVID-19 assistance

Chartered Accountants ANZ (CA ANZ) has received many queries from members about the NSW COVID-19 assistance packages. 

The most common complaint has been about the long waiting times, and phones dropping out when calls are made to Service NSW. CA ANZ has advocated for guidance to be published urgently on these issues to avoid the need to make calls.   

As of 4 August, the top 5 queries received relate to the treatment of:

• New businesses - how to calculate a decline in turnover
• Growing businesses, business restructures, droughts - how to calculate a decline in turnover
• Treatment of drawings by sole traders and partners - are they eligible expenses? What happens if the grant is more than eligible expenses?
• Charities – can government grants and reimbursed expenses by excluded from the decline in turnover calculation
• Cash based turnover entities that are required to refund amounts - will there be special rules to help these entities. 

CA ANZ has raised the following issues with Service NSW in the download below.