NSW government announces new Omicron measures to help businesses

SMECOVID-19Government

1 February 2022

The NSW Government has announced new programs, grant and rebates to support business recovery in NSW.

The main measures include:

Small Business Support Program

A new 2022 Small Business Support Program where businesses with a turnover 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 Service NSW from mid-February 2022.

  • Employing businesses can receive 20% of 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 can receive $500 per week paid as a lump sum of $2,000 for the month of February.

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

Small business fees and charges rebates

An expanded small business fees and charges rebates where the existing rebate will increase from $2,000 to $3,000 in late March 2022 and eligible employing small businesses will be able to use the rebate against the following fees and charges incurred from 1 March 2021 to 30 June 2022:

  • the cost of rapid antigen tests (RATs);

  • food authority, liquor and tradesperson licences;

  • event fees;

  • outdoor seating fees;

  • council rates;

  • road user tolls for business use.

A full list of eligible fees and charges can be found here.

Businesses that have already registered for the rebate will receive an automatic top-up of $1,000 and newly registered businesses will receive a rebate of $3,000 by applying through Service NSW.

Extended Commercial Landlord Hardship Grant

An Extended Commercial Landlord Hardship Grant where eligible landlords that provided rental waivers to affected tenants can apply for grants up to $3,000 (GST inclusive) per month up to 13 March 2022.

Extended NSW Performing Arts Relaunch Package

An Extended NSW Performing Arts Relaunch Package where entities and performing artists in NSW affected by COVID that are unable to access other financial support can apply through Create NSW for funding such as Support Act that helps music workers in NSW who can’t work due to the impact of COVID.

Other NSW government business support includes:

  • The Going Global Package providing Export Assistance Grants up to $10,000 for up to 1,000 export ready or export capable NSW businesses until 30 June 2022. More information to apply for this grant can be found here.

  • COVID Techvouchers for startups, scaleups and other businesses where such businesses that apply before 10 February 2022 can receive a government co-contribution to accelerate commercialising products and services that address disruptions caused by COVID.

  • Support payment arrangement for payroll tax until 28 February 2022 such as a 50% payroll tax waiver for the 2022 tax year for employers with annual Australian turnover of $10 million or less who qualified for certain COVID reliefs.

Please note that as with all the COVID measures, the assistance available is constantly changing and all the support package details may not yet be available at the time of the announcement. Please speak to your Findex representative or contact us for more information.

Author: Roelof van der Merwe

Roelof is the National Tax Director of Findex and has more than 15 years' experience in Australia delivering practical tax and consulting services. Roelof joined Findex after gaining experience in Big 4 and mid-tier firms. Roelof helps to ensure that Findex stays up-to-date with the latest developments by interpreting technical tax information in a practical and relevant manner. He has experience on a wide variety of complex tax related topics and has the ability to identify, understand and clearly communicate how the tax law may impact business transactions and taxpayers.