Guide on the NSW Business Support Package

Acknowledging the difficulty that business operators have faced, the NSW Treasurer has announced a package of measures to support small businesses impacted by COVID-19 over January and February 2022.

On Sunday, the NSW Government announced a $1bn business support package including:

• Up to $5k per week for Feb 2022 - A lump sum payment of 20% of weekly payroll, up to a maximum of $5,000 per week for the month of February 2022 for eligible businesses (non-employing businesses receive $500 per week).To access the package, businesses must:
  • Have an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2021; and
  • Experienced a decline in turnover of at least 40% due to Public Health Orders or the impact of COVID-19 during the month of January 2022 compared to January 2021 or January 2020; and
  • Experienced a decline in turnover of 40% or more from 1 to 14 February 2022 compared to the same fortnight in either 2021 or 2020 (using the same comparison year utilised in the decline in turnover test for January); and
  • Maintain their employee headcount from “the date of the announcement of the scheme” (30 January 2022).

 

• Fees and charges rebate increased to $3,000 and extended to cover future RAT tests

 

• Commercial landlord relief extended to 13 March 2022

 

• NSW performing arts package extended until April 2022 (see CreateNSW)

Get the full guide here and contact us at 1300 273 900 for any assistance.