Acknowledging the difficulty that business operators have faced, the NSW government has provided eligible businesses with Small Business Support Program.
The program is managed by Service NSW. If you have not already set up a MyServiceNSW Account and updated Business Profiles, you will need it for the applications of the grants. To register, please click here.
If you need any assistance on the applications, eligibility assessments and an accountant letter for business-related grants, please make bookings via the dedicated link here. Advisor fees will be applicable. Our services will be prioritized based on the booking orders.
Who
For the businesses, sole traders, and not-for-profit organizations in NSW with national aggregated annual turnovers between $75,000 and $50 million inclusive for the year ended 30 June 2020 or 30 June 2021.
Turnover period
Decline in turnover due to the impacts of COVID-19 during,
- January 2022, compared to January 2021 or January 2020, AND
- from 1 to 14 February 2022, compared to the same fortnight in February 2021 or February 2020.
Turnover declined percentage
40% or more
How much do you get
For a non-employing business, such as s sole trader, the payment is $500 per week.
For an employing business, the payment is equivalent to 20% of weekly payroll for work performed in NSW with,
- The minimum payment of $750 per week, and
- The maximum payment of $5,000 per week.
(Eligible businesses will receive one payment covering the 4-week period of February 2022. Businesses will not receive payment for January 2022.)
When can you apply
Applications are open now and close after 11:59pm on 31 March 2022.
What supporting documents do I provide
- Most recently lodged income tax return for the year ended 30 June 2020 or 2021.
- Most recently submited BAS or IAS within 2021-22 financial year.
- A letter from a qualified accountant, registered tax agent or registered BAS agent.
- Other supporting documents, such as payroll reports as requested.
How to apply
Service NSW will deliver the grant on behalf of the NSW Government. Please set up a MyServiceNSW Account and Business Profiles.
When do I get paid
Once approved, the business will receive the payment within 5-10 business days from the approval date.
Important things to keep in mind
- You are NOT eligible for this support if you do not have an active ABN and were operating in NSW on 1 January 2021.
- You are NOT eligible for this support if your business primarily earns passive income (rent, interest, or dividends).
- If you’re a non-employing business, such as a sole trader, to be eligible, you have this business as your primary income source. You can only claim payment for one business if you have multiple businesses. You are still eligible if you receive Commonwealth Pandemic Leave Disaster Payment.
- If you’re an employing business, to be eligible, you must maintain your employee headcount from 30 January 2022 to 28 February 2022. Your employees can receive Commonwealth Pandemic Leave Disaster Payment.
- For the program purpose, the wages are only relevant to the employees who usually work or are based in NSW. Weekly payroll should be referred to the most recent BAS/IAS for the 2021-2022 financial year. The wages are those subject to PAYG withholding tax, including allowances, director fees, etc but excluding super contributions or contactors under voluntary agreements.
- Successful applications may be subject to audits and you will need to keep all documentary evidence for a minimum of 5 years.
Alternative circumstances
There are several circumstances, such as new business etc., not meeting the eligibilities in the guideline. Those businesses should contact Service NSW to determine if an alternative comparison period, or alternative supporting evidence, can be applied.
For full information on 2022 Small Business Support Program please click here
If you need any assistance on assessing your eligibility, please make a booking here.
Please note that the material and contents provided 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.