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Katz pledged, but the sums were cut: this is the aid plan approved by the government
The "Braking for Growth" program extends some of the relief granted to business owners affected by the Corona crisis, and expands further regulations.
But the grants have been reduced, and some have actually been brought forward on the assumption that the economy is expected to open soon in light of the rapid pace of vaccinations.
Who are eligible and how much money will business owners receive?
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Corona virus
Grants
Business
Ministry of Finance
Sonia Gorodisky
Monday, 04 January 2021, 22:30
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The government today (Monday) approved the new business grants program of Prime Minister Benjamin Netanyahu and Finance Minister Israel Katz.
The program, dubbed "Braking for Growth," extends some of the relief granted to business owners affected by the Corona crisis, and expands further regulations.
However, an examination of its sections reveals that these amounts are lower than what Minister Katz promised when it was announced last month.
In addition, the funding for grants of NIS 2 billion will come at the expense of grants to businesses planned in the government assistance program in May-June 2021. In other words, this is in fact an advance of about half of the grants planned in these months assuming that the economy opens during this period.
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To the full article
The grants were cut.
Closed store in Bilu Center (Photo: Reuven Castro)
Who is eligible for the grants?
Businesses affected by at least 25% during the corona period will be entitled to a special grant for "prolonged injury" in which small businesses with an annual turnover of up to NIS 300,000 will receive grants of NIS 3,000, 5,000 and 9,000 - depending on the amount of the injury.
This is in contrast to what is stated in the main points of the plan, as Katz presented: NIS 6,000, 8,000 or ten thousand, respectively.
In addition, the new plan stipulates that large businesses whose turnover in 2019 was between NIS 300,000 and NIS 400 million, their grants will be 50% of the average fixed expenditure grant given to the business so far, for eligibility periods in 2020, up to NIS 50,000.
The amount of the grant - depending on the depth of the injury
40% -25% damage to the business turnover: a grant of NIS 3,000
Damage of 60% -40% in the business turnover: a grant of NIS 5,000
Damage over 60% in the business turnover: a grant of NIS 9,000
For an exempt dealer, the decrease in turnover in 2020 will be examined compared to 2019, in order to determine eligibility for the grant amounts.
When was the eligibility period extended?
According to the plan, the eligibility threshold will be extended for business assistance grants for fixed expenses, as set for November-December 2020. Now, the same assistance will be credited to those businesses in January-February 2021. It is also stipulated that the Minister of Finance may extend this extension to other periods. Eligibility.
Eligibility period has been extended.
Independents demonstrate in south Tel Aviv, October (Photo: Dana Yarkatzi)
What about property tax refunds?
Another section of the plan relates to property tax refunds.
The ministers determined that the Minister of the Interior will amend regulations under which property tax expenses will also be reimbursed to businesses affected by more than NIS 400 million and eligibility will be determined according to the eligibility threshold set for businesses in cycles of between 200 and 400 million compared to the corresponding months in 2019.
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