Insights – Additional NSW COVID 19 Support for Business
The NSW Government has just released some much needed additional support for businesses hit by the Omicron variant and associate public health orders.
The Small Business Support Program
To be eligible
- had a 2021 aggregated annual turnover between $75,000 and $50 million
- demonstrate a decline in turnover of 40% during January 2022 when compared to January 2021 or 2020
- demonstrate a decline in turnover of 40% from 1 to 14 February 2022, compared to the same fortnight in February in the comparison year used above.
- maintain employee headcount from the date of the announcement of the program.
Eligible businesses will receive 20% of their weekly payroll as a lump sum for the month of February, with a minimum payment of $750 per week and a maximum
payment of $5,000 per week.
Non-employing businesses will receive $500 per week (paid as a lump sum of $2,000).
Businesses will be able to apply through Service NSW from mid-February.
Small Business Fees, Charges and RAT Rebate
This rebate has now been increased from $2,000 to $3,000.
It can be used to cover half of costs for Rapid Antigen Tests or for other government fees and charges such as licences for food authority, liquor or tradespeople as well as event fees, rates and business road tolls.
Already registered businesses will receive an automatic top up of $1,000 but new businesses will need to apply.
Commercial Landlord Hardship Grant
The current protections for small retail and commercial tenants will be extended until 13 March 2022.
Eligible landlords who have provided rental relief to impacted tenants will can apply for grants of up to $3,000 per month per property.
Land tax relief is also expanded to landlords for 2022.
Alto can assist by explaining eligibility or providing supporting evidence for your grant application.
Author: Donna Bruce