More grants, rebates and support for small business

Here are some more financial supports that many NSW businesses are eligible for right now.

Regional Skills Relocation Grant NSW

This program helps regional NSW businesses in identified industries attract skilled and specialised employees from NSW metropolitan areas, interstate or internationally, to regional NSW. Funding of up to $12,500 is available.

Eligible costs covered by this grant include the following relocation expenses:

• furniture removal, including removalist services or trailer/truck or ute hire to relocate the employee's home/residence
• pet boarding for up to 3 months
• travel for employee and immediate family to relocate
• temporary accommodation for up to 3 months
• furniture storage for up to 3 months.

https://www.nsw.gov.au/grants-and-funding/regional-skills-relocation-grant

Electric vehicles rebate

The NSW Government is offering $3,000 rebates for the first 25,000 new battery electric and hydrogen fuel cell vehicles with a dutiable value of less than $68,750.

This incentive, along with the abolition of stamp duty, will save eligible EV purchasers up to $5,540.

The stamp duty exemption and the rebate for all eligible EV purchases will end on 1 January 2024. 

https://www.revenue.nsw.gov.au/grants-schemes/electric-vehicle-rebate

Small Business Export Loan

The Small Business Export Loan provides small to medium export businesses with loans to cover up to 80% of the costs to secure an export contract or purchase order with an overseas buyer.

Funding is available for:

• contracts and purchase orders
• export market development
• general working capital
• equipment finance
• tourism services
• online business growth.

Loans of between $20,000 and $350,000 are available, to cover up to 80% of your export contract(s) or purchase order(s).

https://www.exportfinance.gov.au//how-we-can-help/our-solutions/small-business-export-loan/

Small business skills and training boost

Small businesses with an aggregated annual turnover of less than $50 million will be allowed an additional 20% tax deduction for external training courses delivered to employees by registered training providers.

The boost applies to eligible expenditure incurred from 7:30 pm AEDT on 29 March 2022 until 30 June 2024.

https://www.ato.gov.au/Business/Income-and-deductions-for-business/Deductions/Small-business-skills-and-training-boost/

Energy Savings Scheme

The Energy Savings Scheme (ESS) provides NSW businesses with financial incentives to invest in projects which will reduce their energy consumption. Incentives are available to install new equipment or modify a current system.

Different equipment and processes are eligible, including but not limited to:

• lighting
• heating, ventilation, and air conditioning (HVAC) systems
• motors, fans and pumps
• compressed air systems
• refrigeration
• power systems
• hot water and steam systems
• furnaces
• switching to new fuels such as biofuels, biogas and other renewable sources like solar irrigation

https://www.energy.nsw.gov.au/business-and-industry/programs-grants-and-schemes/business-equipment

Export Finance Loans

Small to medium businesses can apply for loans from $350,000 to help them secure the finance required to meet specific export contracts or purchase orders when traditional lenders are unable to help.

To be eligible, you must:

• have an annual turnover of over $250,000
• be unable to get financing from your bank
• have been established for at least 2 years
• be an Australian registered company with an Australian company number (ACN)

https://business.gov.au/grants-and-programs/export-finance-australia-loans

Textile, Clothing and Footwear Corporatewear Register

Employers can register their non-compulsory uniform and accessories, which allows their employees to obtain tax deductions for the cost of renting, buying or maintaining their clothing. Employers are eligible for fringe benefit tax (FBT) concessions on any contribution they make towards their employees’ uniforms.

https://business.gov.au/grants-and-programs/textile-clothing-and-footwear-corporatewear-register

Find more grants using the Federal Government’s grant finder tool  or the NSW Government’s grant finder.