NSW Small Business Support Program
The NSW Government announced a financial support package to assist businesses being impacted by the Omicron wave in late January 2022.
Small business support program
Eligible businesses can receive 20% of their weekly payroll paid as a lump sum for the month of February 2022. The minimum payment will be $750 per week and the maximum payment is set at $5,000 per week. Non-employing businesses will receive a lump sum of $2,000 (i.e. $500 per week). Funds can be used to cover costs incurred due to the impacts of the Omicron strain of COVID-19 in NSW, including salary and wages, utilities and rent, financial, legal or other advice, marketing and communications, perishable goods and other business costs.
Eligibility requirements
To be eligible for the payment, your business must have:
• An active Australian Business Number (ABN).
• Been operating in NSW on 1 January 2021.
• Have an aggregated turnover between $75,000 and $50 million for the for the year ended 30 June 2021 or 30 June 2020.
• Have experienced a 40% decline in turnover as a result of the Omicron strain:
o for the month of January 2022 compared to January 2021 or January 2020, and
o between 1 February 2022 – 14 February 2022 compared to the same fortnight in the comparison year used above.
• Maintained your employee headcount from 30 January to 28 February 2022 if the business is an employing business, or
• If a non-employing business, demonstrate that the business is the primary income source (50% or more of the total income) for the associated person. If you have more than one non-employing business, you can only claim payments for one business.
Evidence to support your application
Requirements may differ depending on whether your business is on the list of industries directly impacted by the Public Health Order (PHO).
If your business is covered under the PHO list of industries.
You may be required to submit:
1. Declaration of headcount or primary source of Income. Employing business must declare their employee headcount on 30 January 2022 and declare they will maintain their employee headcount over the period from 30 January to 28 February 2022.
2. Proof of turnover. Most recently lodged Australian income tax return with tax file numbers redacted (for year ended 30 June 2020 or 30 June 2021 only).
3. Evidence of weekly payroll amount. Generally, this will be:
a. the most recent BAS or IAS within the 2021–22 financial year.
b. 2020-21 payroll tax reconciliation return.
c. a copy of the business payroll report filed using Single Touch Payroll (STP).
4. 40% decline in turnover. Declare that they experienced a decline in turnover of 40% or more due to COVID-19:
a. in January 2022 compared to January 2021 or January 2020.
b. from 1–14 February 2022 compared to the same fortnight in February in the comparison year used for January’s decline in turnover
5. Further evidence. Identify how the Public Health Order has directly impacted the turnover of the business.
If your business is NOT covered under the PHO list of industries.
You may be required to submit:
1. Declaration of headcount or primary source of Income. Employing business must declare their employee headcount on 30 January 2022 and declare they will maintain their employee headcount over the period from 30 January to 28 February 2022.
2. Proof of turnover. Most recently lodged Australian income tax return with tax file numbers redacted (for year ended 30 June 2020 or 30 June 2021 only).
3. Evidence of weekly payroll amount. Generally, this will be:
a. the most recent BAS or IAS within the 2021–22 financial year.
b. 2020-21 payroll tax reconciliation return.
c. a copy of the business payroll report filed using Single Touch Payroll (STP).
4. 40% decline in turnover.
Submit evidence that they experienced a decline in turnover of 40% or more due to COVID-19 in January 2022 compared to January 2021 or January 2020. Evidence can be in the form of:
a. the relevant business activity statements; or
b. a letter from a qualified accountant, registered tax agent or registered BAS agent.
Declare that they experienced a decline in turnover of 40% or more due to COVID-19 from 1–14 February 2022 compared to the same fortnight in February in the comparison year used for January’s decline in turnover.
5. Identify how COVID-19 has impacted your turnover.
Applications
Applications are no open on the Service NSW website, and will close at 11:59pm on Thursday 31 March 2022.
If you would like any assistance to prepare your evidence or in relation to the application process, contact our office.