Frequently Asked Questions

This grant was for licence holders who:

• Have been unable to catch or harvest their usual volume of marine species
• Have had to cease operations due to extended harvest closures
• Have experienced major reductions in catch due to the algal bloom.

It can be used to cover operational losses, maintain business continuity, and support recovery efforts.

Applicants who may be, or may become, entitled to an insurance payout need to disclose any relevant insurance policies to the algal bloom in their application form.

If you receive an insurance payment after being approved a grant, you will be required to reimburse the government when you receive your insurance payout (up to but not exceeding the value of any grant you receive).

The FTE calculation for different classes of employees is as follows:

• for permanent full time and part time employees, the hours worked per week specified in their employment or agreement or industrial award applicable to their position (or, if there is no contract, the hours of work required by the business); or
• for casual employees, the average hours worked per each employee over the most recent financial year quarter or BAS period prior to your application.

In addition to full-time employees (which are 1.0 FTE), the FTE calculation can also be used to express a part-time or casual employee as a proportion of an employee in an equivalent full-time position.

The proportion is expressed as a decimal fraction of one (to two decimal points). To calculate the FTE for part time or casual employees, divide the number of hours worked per week (excluding overtime hours) for each employee by the normal full-time hours per week of his or her position.

For example, for positions in which 37.5 hours per week is normal full-time:

• A part time permanent employee with contracted hours of 20.0 hrs/week in that position would be 0.53 FTE (20.0 divided by 37.5 = 0.53).
• A full time permanent employee with contracted hours of 37.5 hrs/week in that position would be 1.0 FTE (37.5 divided by 37.5 = 1.0).
• A casual employee who has worked an average of 8 hrs/week in that position over the most recent financial year quarter and BAS period (July – September), would be 0.21 (8.0 divided by 37.5 = 0.21).

An employee cannot be expressed as more than one full-time equivalent (1.0). So even if the work more than 37.5 hours, they will only ever count as one FTE.

Yes, applicants must apply all funding received from an Employee Retention Payment towards only employee wage costs.

Applicants may also apply funding received from a Tier 1 or Tier 2 General Assistance Payment towards employment costs, including wages, at their discretion along with a list of other costs or expenses set out in the guidelines.

Please note applicants will be required to acquit (and provide appropriate supporting documentation) of their use of that funding within 6 months of receiving the Employee Retention Payment.

Fisheries and Aquaculture Assistance Grant payments are subject to GST. All applicants for this grant must be registered for GST.

For example, if your grant payment amount is assessed as $25,000 under this program, you will receive a GST top up of $2,500 in addition to that amount. You will be issued with a Recipient Created Tax Invoice (RCTI) for any payments and GST top up under this program.

Yes, the Fisheries and Aquaculture Assistance Grant payments are assessable income.

We are unable to provide tax advice as individual circumstances may differ. If you are unsure how this applies to your situation, speak with your accountant, registered tax agent or another qualified professional.

A Recipient Created Tax Invoice (RCTI) will be provided for your Fisheries and Aquaculture Assistance Grant payment. This is usually issued within 21 days of payment, though processing times may vary.

Please call the Grants Infoline on 1800 931 314 if you would like to request this.