Closure of Hunter River and Port Stephens Fisheries – September 2015 - Business Transition Payment

Assistance for businesses affected by the closure of the Hunter River and Port Stephens fisheries to voluntarily transition to an alternative source of income.

The Hunter River and Port Stephens fisheries will reopen on 1 October 2016. The financial assistance package for individuals and businesses experiencing financial hardship as a result of the closure of the fisheries in the Hunter River and Port Stephens is ending on 25 November 2016.

About the Business Transition Payment

Provides eligible businesses with assistance for expenses involved with a voluntarily transition to an alternative source of income as a direct result of the closure of the fisheries in the Hunter River and Port Stephens on 4 September 2015. It consists of up to 5 payments, to a total of $25,000.

The Business Transition Payment is a taxable payment and is considered income for tax purposes. You should consult to a tax professional or lawyer about how this payment may affect your tax.

Read more about commercial fishing closures on the NSW Primary Industries Fishing and Aquaculture website.

Eligibility

A small business may be eligible for the Business Transition Payment if:

  • it engages in commercial fishing, excluding oyster farming, in the closed fisheries
  • it has received a Business Assistance Payment
  • since 1 July 2016 it has incurred expenses, or will incur expenses, relating to the transition to a new fishery or alternative business enterprise and can show evidence of these expenses

You are required to provide evidence to support your claim. This may include evidence of business expenses, receipts and invoices. If you’re having difficulty providing evidence, contact us to discuss.

More information about the evidence needed to support your claim is outlined in the Closure of Hunter River and Port Stephens Fisheries - September 2015 - Business Transition Payment claim form.

For more information about the Business Assistance Payment please call 180 23 22.

Claiming

You can submit claims in person, by post or fax.

The Business Transition Payment consists of up to 5 payments to a maximum of $25,000.

Your initial claim must be a minimum of $1,000. It must reflect either:

  • the actual invoices paid, or
  • the amounts due on unpaid invoices or quotations (in limited circumstances)

For business expenses incurred after 1 July 2016, you need to submit your claim by 25 November 2016.

If you wish to make a claim, please:

  1. download and complete the Business Transition Payment – Closure of Hunter River and Port Stephens Fisheries, September 2015 – claim form
  2. submit your claim, with supporting evidence:
    • in person at your nearest service centre
    • by post, sending to:
      Department of Human Services
      Reply Paid 7815
      Canberra BC
      ACT 2610
    • by fax to 1300 727 760
If you post or fax your claim to us, ensure your supporting evidence is clearly identified with your name.
Payments will be made directly into the nominated Australian financial institution account held in the name of the business submitting the claim.

Resources

Page last updated: 28 September 2016