Detailed guidelines for the 2022 Small Business Program have been released by Service NSW.

We have summarised the key points about the support program below:

About the program

  • The 2022 Small Business Support Program will provide cash flow support to help businesses survive the immediate impacts of the current Omicron wave of COVID-19 and maintain employee-employer relationships.
  • Service NSW and Revenue NSW will deliver the Small Business Support Program on behalf of the NSW Government.

Available funding

  • Eligible businesses will receive one payment covering the four-week period of February 2022. Businesses will not receive payment for January 2022.
  • Eligible employing businesses will receive the equivalent of 20 per cent of weekly payroll for work performed in New South Wales:
    • the minimum payment will be $750 per week, and
    • the maximum payment will be $5,000 per week.
  • Eligible non-employing businesses will receive $500 per week.
  • Weekly payroll amount will be calculated by referring to the most recent BAS or IAS provided to the ATO for a tax period that falls within the 2021-22 financial year.

Eligibility Criteria

Businesses impacted by COVID-19 will be eligible if they:

  • Had an Australian Business Number (ABN) and were operating in New South Wales on 1 January 2021.
  • Had an aggregated annual turnover of between $75,000 and $50 million (inclusive) for the year ended 30 June 2021 or 30 June 2020 (must use the financial year for the Australian Tax Return most recently lodged with the ATO).
  • Experienced a decline in turnover of 40 per cent or more due to the impacts of COVID-19 during the month of January 2022, compared to January 2021 or January 2020
  • Experienced a decline in turnover of 40 per cent or more due to the impacts of COVID-19 from 1–14 February 2022 compared to the same fortnight in February in the comparison year used for criterion listed above, and
  • Maintain their employee headcount from 30 January to 28 February 2022.
  • Decline in turnover due to the impacts of COVID-19, not because of other reasons such as seasonal variations or business closure for the holiday period.
  • For non-employing businesses, the business receiving payments must be the primary income source (ie 50 per cent or more of total income) for the associated individual.

How to apply

  • Applications opened 16 February 2022 and will remain open until after 11:59pm on 31 March 2022.
  • Applications to be done online through Service NSW website
  • Applicants will need to upload both the latest tax return that has been lodged and the BAS used to calculate the weekly payroll amount
  • Businesses that are not listed in the highly impacted list will need to upload a BAS or a letter from their accountant to evidence that they meet the 40% decline in turnover.
  • Alternative tests are available for impacted businesses but were not operating 1 January 2021 or were affected by natural disasters or sickness and injury.

To apply please use this link

Please feel free to contact any of our trusted advisors should you require assistance with your application.

Book a no-obligation consult.