2022 Government Support for Small Business

2022 Government Support for Small Business

  1. Has your business been impacted by the Omicron wave? A new government support grant is waiting for you.

What is it

The NSW Government is providing a new JobSaver style support grant that is eligible for small businesses that have been impacted by the recent Omicron strain.

How much 

The Government is providing employing businesses a relief of up to 20% of weekly payroll as a lump sum for a one-month period with a minimum of $750 and a maximum of $5,000 per week.

Non-employing businesses can receive $500 per week, paid as a lump sum of $2,000.

Who can apply

Your business must have

• a turnover between $75,000 and $50 million; and

• experienced a minimum of 40% decline in turnover  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 2021 or 2020; and

• maintained employee headcount as of 30 January 2022. 

How to apply

Businesses will need to apply through the Service NSW. Most likely, you will also need an accountants’ letter to support your application, and we will be pleased to help with that.

We will provide the link to apply when application opens in mid-February.

Source: Service NSW

About Wilson & Assoc

Wilson & Assoc Chartered Accountants provides taxation and business advisory services to individuals, investors and businesses wherever you are based. We provide specialist services to startups and health care providers.

If we can help in any way, we’d like to hear from you.

Disclcaimer: The information provided within this article is general information only.  None of the comments in these notes are intended to be advice, whether legal, financial product or professional. You should obtain specific advice regarding your particular circumstances from a tax or legal professional.

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