News, Tax & Accounting

Disaster Recovery Funding Now Open

Small businesses in the eligible defined areas listed below who were directly impacted by the recent South East Queensland Rainfall and Flooding, 22 February – 7 March 2022 may now apply for Disaster Recovery Funding of up to $50,000.

Applications for Disaster Recovery Funding close 5 September 2022.

The maximum total grant amount is $50,000 and is available through two separate applications, where eligibility criteria applies:

  • An initial amount of up to $15,000 is available to support an initial claim with evidence of the direct damage including:
    • photographs
    • quotes/estimates
    • tax invoices
    • official receipts.
  • A subsequent amount of up to $35,000 is available to support subsequent applications for which full evidence of payment is required.

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)
  • 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
  • Replacement of lost or damaged stock if the replacement is essential for immediately resuming operations
  • Leasing temporary premises for the purpose of resuming operation.

An applicant is not eligible for Disaster Recovery Funding under the scheme:

  1. for repairs to a building the applicant lets to a person for residential or commercial purposes, unless the applicant lets the property in the course of operating a business (superannuation funds and personal investment vehicles are not regarded as businesses); or
  2. if the small business is entitled to receive an amount under a policy of insurance for the relevant costs claimed; or
  3. for loss of income as a result of the eligible disaster.

Defined disaster areas: to be eligible for assistance your business must be located in one of the following areas:

  • Brisbane City Council
  • Fraser Coast Regional Council
  • Gladstone Regional Council
  • Gold Coast City Council
  • Goondiwindi Regional Council
  • Gympie Regional Council
  • Ipswich City Council
  • Lockyer Valley Regional Council
  • Logan City Council
  • Moreton Bay Regional Council
  • Noosa Shire Council
  • North Burnett Regional Council
  • Redland City Council
  • Scenic Rim Regional Council
  • Somerset Regional Council
  • South Burnett Regional Council
  • Southern Downs Regional Council
  • Sunshine Coast Regional Council
  • Toowoomba Regional Council

For further information about the Disaster Recovery Funding that may be available to you, to check your eligibility or to apply, visit qrida.qld.gov.au

If you have any further questions, please do not hesitate to get in touch.

 

Lemonade Beach is a Gold Coast Accounting, Tax and Business Advisory firm in Coolangatta. We provide accounting services for small businesses, through to larger organisations, ensuring your business is compliant, helping you to meet your tax obligations, and using your financial data to provide strategic business advice to help you grow your business. We can also assist with your personal tax returns, through our online, hassle-free tax return service.

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