Are you entitled to a share of $1 billon?

By Victoria Dawes
Tax Principal
01 February 2022

Are you eligible?

THE 2022 SMALL BUSINESS SUPPORT PROGRAM 

BUSINESSES WITH EMPLOYEES

Payroll support is available for businesses of between $750 per week to $5,000 per week.

A payment of 20% of weekly payroll costs will be made to companies that can prove a decline in turnover of at least 40% across January 2022 and the first fortnight of February 2022. To be eligible, you must have a turnover of between $75,000 and $50 million.

The payment relates to payroll costs for the four weeks of February and will be paid in a lump sum.

BUSINESSES WITHOUT EMPLOYEES

Support is available for non-employee businesses of $500 per week.

This payment will be paid in a lump sum and is for the month of February only. The same eligibility criteria regarding turnover and decline in turnover applies as for employing businesses.

Eligible businesses for the program will be able to make an application via Service NSW from mid-February.

EXPANDED SMALL BUSINESS FEES AND CHARGES REBATES

The existing rebate will increase from $2,000 to $3,000 in late March 2022.

Businesses will be able to use the rebate against the cost of:

  • Rapid antigen tests (RATs) for employees of eligible employing businesses (NEW)
  • Food authority licences
  • Liquor licences
  • Tradesperson licences
  • Event fees
  • Outdoor seating fees
  • Council rates
  • Road user tolls for business use.

Businesses who have already registered for the rebate will receive an automatic top-up of $1000 and newly registered businesses will receive a rebate of $3000.

The application of the rebate on RATs will be against 50% of the cost of the tests from late March.

Extended Commercial Landlord Hardship grant

Grants of up to $3000 per month (GST inclusive) are available for eligible landlords who have provided rental waivers to affected tenants. This grant has been extended until 13 March 2022.

Rent waived must be at least half of any rental reduction provided.

Help me register

Other business support available

Export assistance through Going Global support

Export Assistance Grants of up to $10,000 are available for up to 1000 export ready or export capable NSW businesses until 30 June 2022.

COVID-19 TechVouchers for startups, scaleups and other businesses

The deadline of 10 February is fast approaching for businesses to access a co-contribution to accelerate commercialising products and services that address disruptions caused by the COVID-19 pandemic.

Payroll tax support

Revenue NSW offers eligible businesses a support payment arrangement to help with payroll tax until 28 February 2022.

Contact PKF