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Flood Recovery grants have been extended

Recovery grants have been extended to more flood-affected NSW farmers, small businesses and non-profit organisations.

A overview of available grants for Non-Profit / Primary Producers and Small businesses is below.

Feel free to contact TNR if you require guidance or assistance.

Overview – 2017 North Coast Floods – Recovery Grant Assistance Available – Non-profit Organisations

Purpose of grant: For clean-up, removal of debris and restoration to assist business to continue or commence trading.

Value of the purchase or importation (GST-exclusive)Number of adjustment periods
$1,001 to $5,0002
$5,001 to $499,9995
$500,000 or more10

North Coast Floods (Non Profit Organisations)

Overview – 2017 North Coast Floods – Recovery Grant Assistance Available – Primary Producers

Purpose of grant: For clean-up, removal of debris and restoration to assist business to continue or commence trading.

Value of the purchase or importation (GST-exclusive)Number of adjustment periods
$10,001 to $50,0001
$50,001 to $499,9995
$500,000 or more10

North Coast Floods (Primary Producers)

Overview – 2017 North Coast Floods – Recovery Grant Assistance Available – Small Business

Purpose of grant: For clean-up, removal of debris and restoration to assist business to continue or commence trading.

 Sole traderCompany
What is the tax-free
threshold?
$18,200 for sole traders (individuals) in
the 2015-16 income year
There is no tax-free threshold for
companies.
What are the
income tax rates?
Sole traders pay tax at their individual
income rates.
This is 30%.
However, from the 2015-16 income year
onwards the company tax rate for small
businesses with an aggregate turnover of
less than $2 million is 28.5%.
What type of tax
returns need to be
lodged?
An individual tax return each year.
Business income and expenses go
in your individual tax return using a
separate business schedule – you do
not need to lodge a separate return for
your business.
A separate company tax return needs to
be lodged.
You must also lodge your own personal
return as an individual for income you
earn via wages, shares, dividends or
loans received from the company or any
other sources of income.

North Coast Floods (Small Business)

 

Application Form (Lismore & Tweed)
Application Form (Ballina)
Application Form (Byron)
Application Form (Kyogle)
Application Form (Richmond Valley)