Small businesses, sole traders, and not-for-profit organisations affected by the COVID-19 Omicron wave in February 2022 may be eligible for payroll assistance under NSW Government’s Small Business Support Program.
Those who qualify for the grant will receive one payment covering the four weeks of February 2022 only to help maintain employee headcount.
What you’ll receive
For employing businesses, the payment will be equivalent to 20% of weekly payroll for work performed in NSW:
- Minimum payment will be $750 per week
- Maximum payment will be $5,000 per week
Non-employing businesses, such as sole traders, may be eligible to receive a payment of $500 per week, paid as a lump sum of $2,000.
Qualified accountants, registered tax agents, or registered BAS agents may apply on behalf of the business. They will need to provide a letter of authority to show that they are authorized to act on behalf of the business if they are not listed as an associate on the Australian Business Register.
Deadline for applications is on 31 March 2022.
Who are eligible for the program?
Small businesses, sole traders, or not-for-profit organisations may apply for the grant provided they have:
- an active Australian Business Number (ABN)
- been operating in NSW since 1 January 2021
- had an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ending 30 June 2021 or 30 June 2020
- have experienced a decline in turnover of 40% or more due to public health orders or the impacts of Omicron
- During January 2022, compared to January 2021 or January 2020
- From 1 to 14 February 2022, compared to the same fortnight in February 2021 or February 2020
- For employing businesses, maintained an employee headcount from 30 January to 28 February 2022
- For non-employing businesses, the business must be the primary income source (50% or more of total income) for the associated person. You may only claim payment for one no-employing business.
What you’ll need
- a MyService NSW account (you can create one upon application)
- two proof of identity documents
- valid ABN/ACN number
- business banking details for payment
- evidence of annual turnover and loss of income
- Australian income tax return, or for registered charities, your ACNC Annual Information Statement
- qualified accountant, registered tax agent or registered BAS agent details, where required
Apart from meeting the criteria, you will also need to provide evidence to support eligibility. See the list here.
Businesses who fail to meet all the eligibility criteria may still apply for the 2022 Small Business Support Program provided they have evidence to support alternative circumstances outlined in the guidelines. Know more here.
How to apply
For a smoother process, DKM is more than happy to assist with your application. Get in touch with one of our specialists by calling +612 9788 1850 or email info@dkmaccounting.com.au.
You may also apply on your own. Check if you meet the eligibility criteria, prepare your documents and evidence for uploading, and apply online through this link.
Successful applications may be subject to an audit. Service NSW may ask you for additional documents to support its determination of eligibility and use of funds according to the 2022 Small Business Support Program terms and conditions.
Once approved, expect payment to your specified bank account within 5 to 10 business days from the approval date.
For more information, visit www.service.nsw.gov.au/transaction/apply-2022-small-business-support-program