NSW brings in new support package for small businesses

The New South Wales government has unveiled a new support package due to the spiraling number of COVID-19 infections caused by the new Omnicron variant.

• Support will be provided to businesses with a turnover of between $75,000 and $50m.
• The package will provide a payment of 20% of weekly payroll costs to companies that can prove a decline in turnover of at least 40% across January.
• Payments would range from a minimum of $500 to a maximum of $5000 a week, starting from February 1.

Businesses which meet the threshold for the payment would not receive relief for losses incurred during January. Instead, the payment would cover February and be paid as a lump sum.

New South Wales state premier Dominic Perrottet has also confirmed:

• that Commercial landlords who provide rent relief to tenants will now have until March 13 to access a hardship grant.
• the Small Business Fees and Charges Rebate has been topped up from the current $2,000 limit to $3,000. The rebate will be expanded so it can also be used to subsidise the cost of rapid antigen tests by 50 per cent, but it will not be retrospective. Businesses which have already been registered will receive an automatic top up of $1,000 and newly registering businesses will receive a rebate of $3,000.
• an extension to the performing arts package to April 2022.

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Last updated: 9th July 2022