From 10 September 2021, businesses will need to reconfirm their eligibility every fortnight to continue receiving payments under the JobSaver and Micro-business Grant schemes.
Payments will only be processed once eligibility is confirmed.
How to Reconfirm
There are two main approaches in confirming your decline in turnover, depending on whether the business has traded during the relevant fortnight:
If the business was closed during the relevant fortnight there is no requirement to perform a decline in turnover calculation and these entities can simply select 'yes' on the confirmation screen to indicate that they have continued to experience a decline in turnover of at least 30%.
If the business has been trading then it will be necessary to perform some calculations to determine whether this condition is satisfied. There are three options that can potentially be used for this. It is important to note that entities must use the same option each time they reconfirm their eligibility.
Calculating your business's decline in turnover can be complex. Please reach out to your FMA client manager if you require assistance.
Look out for the fortnightly email reminders from Service NSW or click here to reconfirm your eligibility.
Other Key Points
Some businesses may be eligible one fortnight and not eligible the next. Becoming ineligible for one fortnight does not disqualify a business from becoming eligible again in a future fortnight.
Reconfirmation can be delayed if, for example, you need to finalise your month-end accounting records. You can also reconfirm multiple fortnights in one go.
Service NSW states that payments will be made within 5 days of the entity reconfirming its eligibility.
Here to Help
As always, the FMA team are across the detail and ready to answer any questions you may have.