NSW Business Support Package
On Sunday 30 January 2022, the NSW Government announced a $1billion business support package including:
- Up to $5k per week for February 2022 – A lump sum payment of 20% of weekly payroll, up to a maximum of $5,000 per week for the month of February 2022 for eligible businesses (non-employing businesses receive $500 per week).
To access the package, businesses must:
-
- Have an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2021; and
- Experienced a decline in turnover of at least 40% due to Public Health Orders or the impact of COVID-19 during the month of January 2022 compared to January 2021 or January 2020; and
- Experienced a decline in turnover of 40% or more from 1 to 14 February 2022 compared to the same fortnight in either 2021 or 2020 (using the same comparison year utilised in the decline in turnover test for January); and
- Maintain their employee headcount from “the date of the announcement of the scheme” (30 January 2022).
- Fees and charges rebate increased to $3,000 and extended to cover future RAT tests
- Commercial landlord relief extended to 13 March 2022
- NSW performing arts package extended until April 2022 (see CreateNSW)
Please contact our office if you wish to discuss any of the above further.
The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.