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NSW Government business support package
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NSW Government business support package

NSW Government offers $1bn in additional business support measures

On Sunday 30 January 2022, the NSW Government announced $1bn in additional business support measures aimed at businesses who have been impacted by what they refer to as the “Omicron wave”.

Broadly, the additional business support measure may be divided into four categories.

The 2022 Small Business Support Program (2022 SBSP)

The 2022 SBSP is a program designed to inject cash into businesses who have suffered a decline in their turnover due to the Omicron wave.

Businesses with employees

How much can I receive?

These affected businesses will receive an amount equal to 20% of their weekly payroll for the month of February, with a:

  • minimum payment of $750 per week; and
  • maximum payment of $5,000 per week.

These amounts are not referable to the number of employees, but rather the size of the February 2022 payroll.

Importantly, the 2022 SBSP is only for the payroll month of February 2022, that is, you will only receive one lump sum 2022 SBSP cash payment in March 2022, in respect of your February 2022 payroll. It is not a continuous monthly payment.

How do I qualify?

To qualify for the 2022 SBSP, the employing business must satisfy all of the following requirements:

  1. Had an aggregated annual turnover of between $75,000 and $50 million (inclusive) for the year ended 30 June 2021; and
  2. Experienced a decline in turnover of 40% or more due to Public Health Orders or the impacts of the Omicron wave during the month of January 2022, compared to January 2021 or January 2020; and
  3. Experienced a decline in turnover of 40% or more due to the impacts of the Omicron wave from 1-14 February 2022, compared to the same fortnight in February 2021 or February 2020 (as used for the above criterion); and
  4. Maintain their employee headcount from Sunday 30 January 2022.

For the definition of ‘aggregated annual turnover’ please click here.

For the definition of ‘decline in turnover’ please click here.

Businesses without employees

Non-employing businesses will receive $500 per week (paid as a lump sum of $2,000) if they satisfy the above criteria other than maintaining their employee headcount.

Administration

Businesses will be able to apply through Service NSW from mid-February.

Further details of the business support measures are expected to be announced by the NSW Government, which should address inevitable questions which arise from the practical application of these new business support measures.

Expanded Small Business Fees, Charges and RAT Rebates (SB Rebate Scheme)

How much can I receive?

The NSW Government has expanded the existing SB Rebate Scheme by increasing the rebate from $2,000 to $3,000.

The SB Rebate Scheme has been expanded to cover half the cost of a Rapid Antigen Test (RAT). These RATs are increasingly a cost born by the employing business to ensure they are compliant with health and safety requirements.

The SB Rebate Scheme can still also be used to pay other fees and charges like:

  • Food authority licenses
  • Liquor licenses
  • Tradesman licenses
  • Event fees
  • Outdoor seating fees
  • Council rates
  • Road user tolls for business use.
How do I qualify?

To qualify for the SB Rebate Scheme, a business needs to register with Service NSW. Businesses who have already registered for existing rebates will receive an automatic top-up payment of $1,000 (i.e., from $2,000 to $3,000) and newly registered business will receive a rebate of $3,000.

Businesses can register through Service NSW.

Extended Commercial Landlord Hardship Grant

Current protections under the Retail and Other Commercial Leases (COVID-19) Regulation 2021 (the Regulation) for small retail and commercial tenants will be extended for an additional two months, until 13 March 2022.

How much can I receive?

Grants of up to $3,000 per month (GST inclusive), per property, are available for eligible landlords who have provided rental relief waivers to affected tenants.

Rent relief waived per property must comprise of at least half of any rental reduction provided (as opposed to other concessions, such as a deferral of rent).

The Regulation prohibits certain actions by landlords (such as lock out or eviction), unless they have first renegotiated rent with eligible tenants and attempted mediation.

Commercial landlords can apply for the Commercial Landlord Hardship Grants via Service NSW.

Extended Performing Arts Relaunch Package

Create NSW will extend the Performing Arts Relaunch Package from 14 February 2022 until 30 April 2022.

This provides funding for the following:

  • An eligible venue (list published by Create NSW)
  • A producer of an eligible performance scheduled to perform at an eligible venue
  • A promoter of an eligible performance scheduled to perform at an eligible venue.

Entities and artists can apply through Create NSW Performing Arts Relaunch.

What are the next steps?

If you require assistance in understanding the application of the business support measures, please contact your Pitcher Partners advisor.

This content is general commentary only and does not constitute advice. Before making any decision or taking any action in relation to the content, you should consult your professional advisor. To the maximum extent permitted by law, neither Pitcher Partners or its affiliated entities, nor any of our employees will be liable for any loss, damage, liability or claim whatsoever suffered or incurred arising directly or indirectly out of the use or reliance on the material contained in this content. Pitcher Partners is an association of independent firms. Pitcher Partners is a member of the global network of Baker Tilly International Limited, the members of which are separate and independent legal entities. Liability limited by a scheme approved under professional standards legislation.
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