If you’re based in Queensland and affected by the recent flood disaster, the government has made available financial support packages and grants.
Torrential rain and flood waters have impacted communities along the east coast from Maryborough in Queensland all the way to Grafton in NSW.
Across south-east Queensland, at least 33 areas were inundated by more than 1 metre of rainfall between 23 and 28 February. In Brisbane 792.8mm fell over the six days to 9am on 28 February, flooding an estimated 15,000 homes across the city.
Thousands were told to evacuate as flood waters then surged in the northern rivers district of NSW, laying waste to towns and washing away cattle. The low-lying city of Lismore experienced its worst flooding since modern records began.
With this unprecedented level of destruction, the Queensland Government has made available the following individual financial support packages and financial support grants for businesses.
Individual support
There are some disaster relief payments for individuals affected by this flood, specifically:
- Lost income due to the storms and floods; and
- Earn less than average Australian weekly income in the weeks after this event
- Average income is defined as $1,737.10 per week
Australian Government Disaster Recovery Payment
- If someone got seriously injured/died or home majority damaged by flood.
The South-East Queensland Rainfall and Flooding Extraordinary Disaster Assistance Recovery Grants
The Extraordinary Disaster Assistance Recovery Grants are available to assist directly impacted small businesses, primary producers and non-profits with the costs of clean-up and reinstatement.
All grant information included in this article is for small business. Information on grants available for primary producers and non-profit organisations can be found on the grant website.
What assistance is available?
Grants of up to $50,000 are available (through two applications) to hire or purchase equipment and materials, clean up, remove debris, replace or repair damaged infrastructure and stock, and other costs associated with the recovery process.
- An initial amount of up to $15,000 is available to support an initial claim. Evidence of the direct damage such as photographs, quotations, tax invoices and official receipts is required.
- A subsequent amount of up to $35,000 is available to support subsequent claims for which full evidence of payment is required.
Businesses need to provide photographs of the direct damage to accompany their application/s.
How may the assistance help you?
Eligible clean-up, reinstatement activities and emergency measures include:
- Equipment and materials to undertake clean-up
- Additional labour costs (above and beyond normal wage expenditure i.e. day-to-day staffing)
- Disposing of damaged goods and stock, including associated costs
- Repairs to buildings (other than housing)
- Reconditioning/repairing essential plant and equipment
- Purchase or hire/lease costs for equipment essential to the immediate resumption of the business
- Payment for tradespeople to conduct safety inspections
- Essential repairs to premises and internal fittings that is not covered by insurance.
Eligibility Criteria
To be eligible for an exceptional circumstances grant, you must:
- be a small business owner
- hold an Australian Business Number (ABN) and have held that ABN at the time of the eligible disaster
- own a small business located in the defined disaster area for the eligible disaster that has suffered direct damage as a result of the eligible disaster
- have been engaged in carrying on the small business when affected by the eligible disaster
- be primarily responsible for meeting the costs claimed in the application and
- intend to re-establish the small business in the defined disaster area for the eligible disaster.
An applicant may also be eligible for an exceptional circumstances grant if both of the following apply:
- the small business is located outside the defined disaster area for the eligible disaster but is operated at least sometimes on a regular basis in the area; and
- plant or equipment of the small business situated in the defined disaster area has been damaged as a result of the eligible disaster
How to apply
Applications can be made on the QRIDA QLD Government website
This website also contains further information including:
- Information on assistance available for primary producers and non-profit organisations
- Documentation required for application
- Defined disaster areas
- FAQ’s
Complete applications are assessed in order of receipt and QRIDA may request further information to help assess an application.
Applications remain open until 5 September 2022.
Other assistance support offered to QLD businesses
Government assisted loans
Some loans have been made available to assist businesses recover from this event:
- Disaster Assistance (Essential Working Capital) Loan: Loans are available to assist primary producers, small businesses and non-profit organisations with essential working capital for expenses
- Disaster Assistance Loans: Loans are available to assist primary producers, small businesses and non-profit organisations with re-establishing normal operations
Financial institution support
Most major banks are offering support to their customers affected by this disaster. If you are experiencing financial hardship, we encourage you to contact your bank to discuss your situation with them.
NSW – Financial support for businesses affected by floods
If you are located in NSW and your business or not-for-profit has been affected by severe weather and flooding, you may be eligible for financial assistance.
The NSW government has established a financial support for business website which includes a disaster assistance finder. Simply complete the step-by-step assistance finder to see what government financial assistance you may be eligible for.
NSW LGA Financial Assistance and Support
- nsw.gov.au/floods/financial-support-for-businesses – includes link to financial assistance finder
- nsw.gov.au/floods – NSW government information and services to help individuals, families, households and businesses
How can Walsh Accountants Help?
Now more than ever, the team at Walsh Accountants are positioned to help business owners deal with the devastating impacts this flood disaster has had on their business and financial security.
We are here to help individuals obtain all the financial assistance available to them and to prepare for what is ahead through the recovery process.
If you are flood affected, please do not hesitate to contact our office and speak with one of our accountants for assistance.
