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The NSW State Government have recently announced a $1bn financial support package to assist businesses with the financial burden caused by the Omicron outbreak in NSW. 
This package will be delivered primarily through the 2022 Small Business Support Program to provide cash flow assistance for payroll costs and the Expanded Small Business Fees and Charges Rebates aimed at offsetting the cost of Rapid Antigen Tests (RATs) and government fees and charges.
2022 Small Business Support Program
Overview
Eligible businesses will receive a lump sum payment for the month of February 2022 to provide support for businesses that have experienced cash flow issues as a result of the immediate economic impacts of the Omicron outbreak.
The 2022 Small Business Support Program will provide financial support for eligible businesses.
Employing Businesses will receive:
- A payment of between $750 to $5,000 per week is available; calculated as 20% of your ‘Weekly Payroll’ as a lump sum for the month of February 2022
Non-Employing Businesses will receive:
- Businesses without employees (sole traders) will be able to access payments of $500 per week paid as a lump sum of $2,000 covering the month of February 2022.
The 2022 Small Business Support Program is for the month of February 2022 only.
Eligibility
The program provides support for eligible businesses that:
- Had an aggregated annual turnover of between $75,000 and $50 million (inclusive) for the year ended 30 June 2021; and
- Experienced a decline in turnover of 40% or more due to the Public Health Order or the impacts of the Omicron COVID-19 strain during the month of January 2022, compared to January 2021 or January 2022; and
- Experienced a decline in turnover of 40% or more due to the impacts of the Omicron COVID-19 strain from 1-14 February 2022, compared to the same fortnight in February in the comparison year used for the above criterion; and
- Maintained their employee headcount from the date of the announcement of the scheme.
We anticipate that Service NSW will release extended eligibility criteria in the coming days in addition to the initial COVID Business Support Package released by the NSW government on 30th January 2022. The eligibility criteria should detail a list of information that may be required for businesses to provide as evidence in their application to prove they are an eligible business as explained above.
HOW TO APPLY
Similar to the COVID-19 Business Grant, JobSaver, and the Micro Business Grant, businesses impacted will be able to apply through Service NSW from mid-February 2022.
Further Considerations
The NSW government has advised that most customers submitting complete and eligible applications through Service NSW should receive payment within 5 to 15 days of applying.
Based on prior government stimulus programs, the government has advised that payment timeframes can sometimes be extended if applications are:
- Incomplete
- Require additional verification, and
- Potential fraudulent behaviour is identified.
For all the details currently available on the Small Business Program please visit the following link: https://www.nsw.gov.au/covid-19/business/financial-support/grants-and-loans
Expanded Small Business Fees and Charges Rebate
Overview
The existing rebate has been increased to assist eligible employing small businesses combat the financial cost of purchasing Rapid Antigen Tests (RATs) for their business.
The Small Business Fees and Charges Rebate will increase from $2,000 to $3,000 in late March 2022 and now can be used to rebate against the cost of RATs.
This rebate also covers various COVID-19 related government fees and charges (e.g. Food Authority Licenses, Event Fees, Outdoor Seating Fees, Council Rates, etc) which have been incurred from 1 March 2021 to 30 June 2022
Businesses who have already registered for the rebate will receive an automatic top-up of $1,000 and newly registered businesses will receive a rebate at the new rate of $3,000.
Eligibility
Businesses that are eligible for this rebate are small businesses (including non-employing sole traders) and not-for-profit organisations who must:
- Have total Australian wages below the NSW Government 2020–21 payroll tax threshold of $1.2 million
- Have an Australian Business Number (ABN) registered in NSW and/or have business premises physically located and operating in NSW.
HOW TO APPLY
Businesses can apply for the expanded small business fees and charges through Service NSW: https://www.service.nsw.gov.au/small-business-fees-and-charges-rebate
You can view the complete list of all eligible fees and charges that this subsidy covers using the following link: https://www.service.nsw.gov.au/system/files?file=2021-12/eligible-fees-and-charges-small-business-rebate.pdf
For any questions regarding the information available or eligibility-related queries please contact your RSM advisor.
Extended Commercial Landlord Hardship Grant & COVID-19 Rent Relief for Small Businesses
Overview
Grants of up to $3,000 per month (GST inclusive) are available for eligible landlords who have provided rental waivers to affected tenants (“impacted lessee”).
To be eligible, the lessor must waive at least half of any rental reduction provided in accordance with the new Retail and Other Commercial Leases (COVID-19) Regulation 2022.
This grant has been extended for another 2 months, until 13 March 2022
For more information regarding the COVID-19 support measures in NSW for tenants and landlords please visit the NSW Government website for landlords and tenants >
Are you an omicron Affected Businesses and require NSW Government Support?
For more information about the 2022 Small Business Support Program, please get in contact with your nearest RSM office >>
