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NSW Government support announced for businesses affected by Omnicron including ‘JobSaver Extension’
1 February 2022 | Minutes to read: 2

NSW Government support announced for businesses affected by Omnicron including ‘JobSaver Extension’

By Tim Lyford and Blake Scheffers

2022 Small Business Support Program

Applications for the 2022 Small Business Support Program open on Monday 14 February 2022 and close Thursday 31 March 2022. Businesses will need to apply through the Service NSW website.

Guidelines have now been released on the Service NSW website detailing the eligibility rules and application process for the Program. See here for full details.

The NSW Government has announced a $1bn support package to help small and medium businesses affected by the Omicron outbreak.

Touted by the media as the “NSW JobSaver Extension” or “JobSaver Lite”, the 2022 Small Business Support Program will provide eligible businesses with a lump sum payment for the month of February as follows:

  • Employing businesses: 20% of weekly payroll with
    • Minimum $750 per week, and
    • Maximum $5,000 per week.
  • Non-employing businesses: $500 per week.

Eligibility requirements

To be eligible, a business must:

  • Have an ABN registered in NSW or operating in NSW as at 1 January 2021.
  • Have an aggregated annual turnover of between $75,000 and $50 million (inclusive) for the year ended 30 June 2021 OR 30 June 2020.
  • Decline in turnover of 40% or more (due to the impacts of COVID-19) during the month of January 2022 compared to January 2021 OR January 2020
  • Decline in turnover of 40% or more (due to the impacts of COVID-19) from 1-14 February 2022 compared to the same fortnight in February in the comparison year used for January.
  • For an employing business, maintain employee headcount from 30 January to 28 February 2022.

If you think you may be eligible, please contact us for assistance.

The Service NSW website sets out additional rules for non-employing businesses as well as limited alternative circumstances where businesses may be able to demonstrate they are eligible despite not meeting all of the eligibility criteria above.

How to apply

You can apply via the Service NSW website from mid-February. Most eligible businesses should receive the payment from within five to 15 days of applying.

Small Business Fees and Charges Rebate – expanded and now covers Rapid Antigen Tests (RATs)

The existing Small Business Fees and Charges Rebate will increase from $2,000 to $3,000 in late March 2022. This rebate covers various COVID-19 related government fees and charges incurred from 1 March 2021 to 30 June 2022 and now can be used to rebate against the cost of RATs.

More details on this rebate can be found here.

COVID-19 rent relief extended for small businesses

The Retail and Other Commercial Leases (COVID-19) Regulation 2022 rent relief provisions have been extended until 13 March 2022 for eligible businesses with a turnover of less than $5 million.

These regulations require landlords to negotiate rent relief with eligible commercial and retail tenants that would have met the eligibility criteria for JobSaver or the Micro-business grant if they were still available.

Rent relief should be proportionate with the eligible tenant’s decline in turnover, with at least 50% in the form a waiver, and the balance a deferral.

Commercial Landlord Hardship Grant extended

The Commercial Landlord Hardship Grant has been extended until 13 March 2022 in line with the extension in the rent relief regulation. The grant worth $3,000 per month (GST inclusive) is available for eligible landlords who have provided rental waivers to affected tenants.

Note that landlords whom have claimed land tax relief for the period 1 July 2021 to 31 December 2021 are not eligible.

For more information on NSW Government support for businesses, please contact your William Buck advisor.

NSW Government support announced for businesses affected by Omnicron including ‘JobSaver Extension’

Tim Lyford

Tim is a Director in William Buck’s Tax division and as a wealth of knowledge across a wide range of industries, including Private Wealth, Property, Financial Services and Technology. As a Chartered Accountant with over 25 years’ experience, Tim is known by many as a trusted tax advisor with the ability to engage a whole suite of people within the business. He comes from a background of leadership roles, board level experience within Business Tax Services and has a natural ability for and a deep understanding of team management and strategic development.

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NSW Government support announced for businesses affected by Omnicron including ‘JobSaver Extension’

Blake Scheffers

Blake is a Tax Consultant in our Tax division. Blake builds strong relationships to provide the best solution for his clients. Blake provides tax advisory services to SMEs/family owned businesses and larger privately owned companies including on capital gains tax, business structuring and restructuring, Division 7A and employee share schemes. He has been a key adviser in assisting businesses access vital COVID-19 government support, staying at the forefront of latest developments to help clients manage through the pandemic. Blake’s previous experience in our business advisory division provides him with a valuable understanding of businesses to ensure practical solutions can be found.

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