2022 Small Business Support Program

If you’re a business, sole trader or not-for-profit organisation in NSW and you’ve been impacted by the Omicron wave of COVID-19, you may be eligible for a payment under the 2022 Small Business Support Program.

The program provides cash flow support to help eligible businesses survive the impacts of COVID-19 and maintain their NSW employee headcount.

Eligible businesses will receive one payment covering the 4-week period of February 2022. Businesses will not receive payment for January 2022.

If you’re an employing business, 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.

Weekly payroll should be determined by referring to the calculations underlying the most recent Business Activity Statement (BAS) provided to the Australian Taxation Office (ATO) for a tax period that falls within the 2020–21 financial year.

If you’re a non-employing business, such as a sole trader, you may be eligible to receive a payment of $500 per week.

Eligible businesses can use funds to cover business costs incurred due to the impacts of the Omicron strain of COVID-19 in NSW. These costs may include:

  • salaries and wages
  • utilities and rent
  • financial, legal or other advice
  • marketing and communications
  • perishable goods
  • other business costs.

A qualified accountant, registered tax agent or registered BAS agent may apply on behalf of your business. Your accountant will need to provide a letter of authority from you to show that they are authorised to act on behalf of your business if they are not listed as an associate on the Australian Business Register.

To be eligible for the 2022 Small Business Support Program, your business or not-for-profit organisation must:

  • have an active Australian Business Number (ABN)
  • have been operating in NSW on 1 January 2021
  • have had an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2021 or 30 June 2020
  • have experienced a decline in turnover of 40% or more due to the impacts of COVID-19:
    • 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, maintain your employee headcount from 30 January to 28 February 2022
  • for non-employing businesses, such as sole traders, show that the business is the primary income source (50% or more of the total income) for the associated person. If you have more than one non-employing business, you can only claim payments for one business.

Applications close on 31 March 2022.

At Richards Financial Services we value your business and will attend to all enquiries we receive in regards to this matter.

Due to the high volume of calls we are receiving inquiring about the payment it may take some time on our part to dig through all of the questions. We ask that our clients exercise some patience during this time.

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