As New South Wales eases out of the Omicron wave and sends its children back to school, the state government has announced some light measures designed to help the most vulnerable businesses in the state.

The purpose of these new initiatives is to specifically target businesses that are struggling because of this recent wave of Covid and seems to be all that NSW could muster without any support from the Federal government.

If your business has struggled through January and February 2022, you may be eligible for the additional grants and payments. Most of the details have yet to be released but, below is what we do know so far:

Small Business Support Program

This is the latest program designed to help businesses in NSW that have been impacted by Covid, specifically the recent Omicron wave.

Eligibility

To be eligible, businesses and not-for-profit organisations must:

  • have a turnover between $75,000 and $50 million for the 2020 and 2021 financial years; and
  • maintain their employee headcount as of 30 January 2020; and
  • have experienced a decline in turnover of 40% or more due to public health orders or Omicron impacts when comparing:
    • January 2022 to January 2021 or January 2020, and
    • 1 – 14 February compared to the same fortnight in the comparison year used above

How much and how often?

Eligible employers will receive 20% of weekly payroll as a lump sum for the month of February up to a maximum of $5,000 per week with a minimum payment of $750 per week.

Eligible businesses that are non-employing will receive $500 per week as a lump sum payment of $2,000.

When and how to apply

Applications will be open from mid-February and can be made on the Service NSW website [similar to JobSaver and the NSW 2021 Business Grants].

 

Expanded small business fees and charges rebates

 The small business fees and charges rebates can be used to offset the cost of eligible NSW and local government fees due and paid from 1 March 2021.

The NSW government announced that the existing rebate will increase from $2,000 to $3,000 in late March 2022.

These rebates can be used to pay fees and charges such as:

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

The full listing of rebates can be found here.

Eligibility

To be eligible, businesses and not-for-profit organisations must:

  • have total Australian wages below the 2021 NSW payroll tax threshold of $1.2 million; and
  • have an ABN registered in NSW and/or have business premises located and operating in NSW

When and how to apply

Businesses that are already registered and received the first will receive an automatic top-up of $1,000 from late March.

For businesses that are not yet registered, you can do this on the Service NSW website here.

 

Extended Commercial Landlord Hardship Grant

The Commercial landlord hardship grant has been extended to 13 March 2022. This grant provides eligible landlords [who give rental waivers to tenants affected by Covid] payments of up to $3,000 per month.

Eligibility

To be eligible, a business must:

  • be a landlord of a property in NSW
  • have an agreement to provide rental relief to tenants from 13 July 2021
  • Not have claimed land tax relief between 1 July 2021and 31 December 2021
  • Have total land holdings valued at $5 million or less as at 31 December 2020 [excluding your principal place of residence]
  • Generate more than 50% of your income from gross rental revenue for either the 2020 or 2021 financial years
  • There are more requirements if you are a business that can be found here

When and how to apply

You can apply on the Service NSW website here.

 

Extended performing arts package

Create NSW will extend this package from 14 February 2022 to 30 April 2022 along with an increase of funding to performing artists in NSW. The package will support entities and performing artists in NSW that are impacted by Covid and cannot access other financial support.

Further details on eligibility can be found on the Create NSW website and applications can be made by entities and artists here.

If you would like to find out more about what this means for you and your business, call a businessDEPOT business financial adviser on 1300BDEPOT or email us at sydney@businessdepot.com.au.