GUIDE FOR THE SECOND STAGE OF THE GOVERNMENT GRANTS TO BUSINESSES

Following demonstrations and media coverage about the plight of business owners and the self employed, the Ministry of Finances has come up with new criteria for controlling shareholders who receive a salary and for the self employed. ELIGIBILITY CONDITIONS FOR THE SELF EMPLOYED The conditions of the second phase for the self-employed are the same as for the first phase with the following changes: ➢ Taxable income for tax year 2018 does not exceed NIS 1 million, compared with NIS 240,000 in the first phase. ➢ Minimum income from a business will be NIS 8,568 per year, compared with NIS...

STEP TO STEP GUIDE HOW TO CLAIM THE GRANT FOR SMALL BUSINESSES

In this article, I am going to address the small business grants that the government is offering. Following is the latest information regarding the NIS 6,000 grant. If you fall under these 5 categories, you are unfortunately currently not eligible: You were under 28 years of age in 2019 it has now been changed to the age of 20 You are a controlling shareholder in the business Your annual earnings in 2018 exceeded NIS 240,000 Your monthly earnings in 2018 were below NIS 2,000 You opened a business in 2019/2020; this means you will only be eligible to receive a...