sch.26-sec.8Maximum loan amount

### sch.26-sec.8 Maximum loan amount The amount of loan assistance that may be given to an applicant under the scheme is the lesser of— 50% of the eligible entity’s annual employee wage expense; or $250,000. In this section— annual employee wage expense means an average of the following expenses— the total expense incurred by the business paying wages and superannuation to employees during the 2017–18 financial year; and the total expense incurred by the business paying wages and superannuation to employees during the 2018–19 financial year. wages , for an employee, see Industrial Relations Act 2016 , schedule 5 . sch 26 s 8 orig sch 26 s 8 ins 2013 SL No. 194 s 5 om 2014 SL No. 51 s 6 prev sch 26 s 8 ins 2015 SL No. 125 s 10 om 2019 SL No. 71 s 59 sch 1 pres sch 26 s 8 ins 2020 SL No. 36 s 4 (sch.26-sec.8-ssec.1) The amount of loan assistance that may be given to an applicant under the scheme is the lesser of— 50% of the eligible entity’s annual employee wage expense; or $250,000. (sch.26-sec.8-ssec.2) In this section— annual employee wage expense means an average of the following expenses— the total expense incurred by the business paying wages and superannuation to employees during the 2017–18 financial year; and the total expense incurred by the business paying wages and superannuation to employees during the 2018–19 financial year. wages , for an employee, see Industrial Relations Act 2016 , schedule 5 . - (a) 50% of the eligible entity’s annual employee wage expense; or - (b) $250,000. - (a) the total expense incurred by the business paying wages and superannuation to employees during the 2017–18 financial year; and - (b) the total expense incurred by the business paying wages and superannuation to employees during the 2018–19 financial year.