NSW Business Grants: When Is An Accountant Letter Required?

When applying for a NSW Government Business Grant, claiming loss of revenue, circumstances depending you may be required to submit an Accountant’s Letter.

Here’s what you need to know;

So What is an Accountant Letter?

An accountant letter is a way for businesses and the self-employed borrowers to support their income claims. Just as the name implies, it is a letter signed off by a qualified accountant to confirm that your self declared income is honest and accurate.

When Do I Need an Accountant Letter?

Not all grants and applications will require accountant letters, only specific ones where it is a requirement of the eligibility process.

Below is a rough chart from the Tax Institute of Australia (TIA) to show when you will require an accountant letter.

How do I get an Accountant Letter?

The easiest way is to contact your accountant and let them know the type of Grant you are applying for. Your accountant should generally already have your books on record and will ask you for any further supporting evidence they require.

If you do not have an accountant, there are certain procedures you need to go through in order to obtain one. Each firm has their own verification processes in place, so make sure to set up a meeting with your designated accountant to understand what checks and procedures you must pass in order to get an Accountant Letter issued by them.

If you have questions about applying for a business grant, contact your CIB advisor for assistance and advice.