FURTHER NSW BUSINESS SUPPORT

More NSW business support after Omicron – Commencing Mid Feb 2022

SOURCE > COVID-19 business grants and loans | NSW Government

The NSW Government has announced new programs, grants and rebates to support business recovery in NSW, including:

Business owners can also search for other government initiatives, grants or funding programs to support a business, project or community on the Service NSW Website


The 2022 Small Business Support Program

The 2022 Small Business Support Program is for the month of February only.

Eligible businesses with a turnover of between $75,000 and $50 million that experienced a minimum 40% decline in turnover in January 2022 – and the first fortnight of February 2022 – can apply for support through this program.

Employing businesses will be eligible to receive:

  • 20% of weekly payroll as a lump sum for the month of February
  • The minimum payment is $750 per week and a maximum payment is $5000 per week.
  • Non-employing businesses will receive $500 per week, paid as a lump sum of $2000.

Businesses will be able to apply through Service NSW from mid-February in 2022.

Most customers submitting complete and eligible applications through Service NSW should receive payment within 5 to 15 days of applying.

Payment timeframes can sometimes be extended if applications are:

  • incomplete
  • require additional verification
  • potential fraudulent behaviour is identified.

Customers will be contacted by Service NSW and asked to provide any additional information they need to finalise their application.


Expanded small business fees and charges rebates

The existing rebate will increase from $2000 to $3000 in late March 2022.

Eligible employing small businesses will be able to use the rebate against the cost of rapid antigen tests (RATs).

The small business fees and charges rebates can also be used to pay other fees and charges like:

  • food authority licences
  • liquor licences
  • tradesperson licences
  • event fees
  • outdoor seating fees
  • council rates
  • road user tolls for business use.

Businesses who have already registered for the rebate will receive an automatic top-up of $1000 and newly registered businesses will receive a rebate of $3000.

Businesses can apply for the expanded small business fees and charges rebate through Service NSW.

Eligible small businesses can claim government fees and charges incurred from 1 March 2021 to 30 June 2022.

View a complete list of all eligible fees and charges.

If your business has not yet registered for the rebates, set up a business profile with Service NSW to make it easy to transact.

Find more information on the fees and charges rebate on Service NSW.


Extended Commercial Landlord Hardship grant

Grants of up to $3000 per month (GST inclusive) are available for eligible landlords who have provided rental waivers to affected tenants.

Rent waived must be at least half of any rental reduction provided.

This grant has been extended until 13 March 2022, in line with new legislation

Apply for the Commercial Landlord Hardship grant through Service NSW.

Read more about COVID-19 support for tenants and landlords.

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If your business is facing cashflow challenges, please get in touch with us for support.

 

 

Alexander Laureti is the Principal and Managing Director of LMS Advisory. He holds a Bachelor’s degree in Accounting and Law, and he is a Fellow of the CPA (Certified Practising Accountants) and a Chartered Tax Advisor. Alexander has over 17 years of experience as an accountant in Public Practice.
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