South Australian Business Creditor Assistance Scheme

The South Australian Business Creditor Assistance Scheme (“the Scheme”) is part of the broader South Australian Government ("SA Government") package to support the continued operation of South Australian businesses which have been directly impacted by OneSteel Manufacturing Pty Limited (Administrators Appointed) (“OneSteel” or “Designated Entity”) being placed into administration on 19 February 2025. OneSteel’s business activities include the Whyalla Steelworks, South Australian iron ore mining assets and some related operations.

Grants, up to $5 million are available to South Australian Businesses that are owed one or more eligible debts by Designated Entities (refer Part 1: South Australian Creditor Assistance).

Whyalla Based Businesses that are owed one or more eligible debts by Designated Entities, totalling $5,000 or more, may receive an interim payment of up to a total of 50% of the eligible debt, capped at $1 million (refer Part 2: Whyalla Creditor Assistance – debts over $5,000). The total cap of $5 million per Grant per Employer Group applies regardless of whether an interim payment is paid under the Scheme.

Payments of the grant funds will be made once SA Government has assessed or verified the applicant’s eligibility for payment under the Scheme to the satisfaction of the SA Government.

Full Guidelines for the Scheme are available here.

More helpful information for this and other support measures:

• South Australian Business Creditor Assistance Scheme information page
• Whyalla Business Support Package Frequently Asked Questions

Whyalla-Based Businesses may also be able to access further support under the Whyalla Small Local Business Support Grant program.

Overarching Requirements

Only one application for a grant under the Scheme can be submitted per Australian Business Number (ABN) i.e. if an eligible business is owed multiple debts by OneSteel, a single application must be submitted for the total amount owed to that eligible business.

Whilst applications are to be submitted per ABN, for the purposes of determining grant amounts and the application of the $5 million cap, applicants will be considered as, and the cap will be applied to, an Employer Group (where relevant) within the meaning of Part 5 of the Payroll Tax Act 2009 (SA). The Treasurer or their delegate reserves the right to determine, in their reasonable opinion, whether an applicant forms part of a given employer group.

Applicants with a trade credit insurance policy are eligible to apply under this Scheme for eligible debt to the extent that amounts are not recoverable or claimable under the policy.

Any grant payments made under the Scheme will be made to an entity rather than the group and the individual recipient entity will be required to enter into grant terms and conditions.

The Treasurer or their delegate holds ultimate discretion over eligibility for this Scheme and there is no entitlement to payment under this Scheme.

Part 1: South Australian Creditor Assistance

To be eligible for a payment under Part 1 of the Scheme, the applicant must:

• be a legal entity established in Australia (a sole trader, company, partnership, not-for-profit, incorporated associations or corporate trustee of a trust). Incorporated entities must be incorporated in Australia as at 19 February 2025;
• hold an active ABN as at 19 February 2025;
• be registered for GST;
• be a South Australian Business;
• not be an excluded entity (defined below);
• be owed an eligible debt by a Designated Entity as at 19 February 2025;
• have submitted a valid and signed proof of debt form to the Administrators of the Designated Entities (with supporting evidence) (“Proof of Debt”);
• confirm their intention to continue to trade during the administration process; and
• enter into a grant agreement on terms and conditions determined by the Treasurer or their delegate.

Where the applicant has a trade credit insurance policy, the applicant will only be eligible to apply for such part of the Eligible Debt that has not been recovered, or is not recoverable, under the applicable policy of insurance.

Part 2: Whyalla Creditor Assistance - Debts Over $5,000

In addition to eligibility criteria outlined under Part 1: South Australian Creditor Assistance, to be eligible under Part 2: Whyalla Creditor Assistance - Debts over $5,000 applicants must also:

• be a Whyalla Based Business.
• be owed an eligible debt by Designated Entities totalling $5,000 or more.

Whyalla Based Businesses that are owed eligible debts by Designated Entities totalling less than $5,000 should apply under Part 1 only and are not eligible for assistance under Part 2. 

To complete this application for either Part 1 or Part 2, an applicant (or a person duly authorised on behalf of the applicant) will be required to provide the following evidence:

• a copy of the business’ bank statement, which must show the bank name and logo, business’ bank account name(s), BSB and account number.
• a Certificate of Currency for any business insurance policy [if the business does not have an insurance policy, the form will give the applicant the option to provide their most recent Business Activity Statement issued by the ATO].
• the Proof of Debt form, including supporting evidence as requested by the Administrator
• a Statutory Declaration in a form determined by the Treasurer or their delegate confirming:
  • that the applicant meets the eligibility criteria as set out in these Guidelines;
  • that the total amount of debt owed by Designated Entities in the Proof of Debt form is an eligible debt;
  • whether the applicant has a trade credit insurance policy, and the level of cover /entitlement under that policy;
  • whether the applicant has made, or is entitled to make, a claim under a trade credit insurance policy to recover amounts for eligible debts claimed under this Scheme and if so the amount that is claimed or claimable;
  • that the applicant will make payment of debts that it owes to its subcontractors as and when they fall due and payable.
• any other information requested from time to time by DSD or DTF.

Before lodging their application, applicants must:

1. submit their Proof of Debt form to the administrators of OneSteel; and
2. after submitting their Proof of Debt form, complete the Statutory Declaration.

The template Statutory Declaration is available from the Department of State Development website with instructions on how to complete it.

Click here to download the Statutory Declaration.

The following organisations are excluded entities and are not eligible to receive assistance:

• GFG entities (defined below);
• Public companies and subsidiaries of public companies within the meaning of the Corporations Act 2001 (Cth) (except for not-for-profit organisations that are established as a public corporation, limited by guarantee);
• Insurers exercising subrogated rights;
• Tax-exempt entities (except for registered charities that are income-tax exempt);
• Local Government and Councils;
• Local Government Associations;
• Industry Associations; and
• State or Federal Government agencies. 

For the purposes of the above, GFG entities include: 

• the ‘Gupta Family Group Alliance’ companies owned or controlled (within the meaning of s 50AA of the Corporations Act 2001 (Cth)) in whole or part by Sanjeev Gupta or his interests;
• related bodies corporate (within the meaning of s50 of the Corporations Act 2001 (Cth)) to those companies (other than the Designated Entities);
• associated entities (within the meaning of s50AAA of the Corporations Act 2001 (Cth)) to those companies (other than the Designated Entities);
• directors, shareholders, investors or employees of those companies described in the preceding points above;
• any company, trust, association or partnership in which the entities or persons set out above have any ownership or any other legal or beneficial interest; and
• any other entity or person designated by the Treasurer or delegate in their sole discretion.