Considering the ongoing impact of the COVID-19 pandemic, the NSW Government has announced several new measures that are designed to support business and not-for-profit organisations, they include:
Support for eligible businesses that:
Had an aggregated annual turnover of between $75,000 and $50 million (inclusive) for the year ended 30 June 2021; and experienced a decline in turnover of 40 per cent or more due to Public Health Orders or the impacts of the Omicron COVID-19 strain during the month of January 2022, compared to January 2021 or January 2020; and experienced a decline in turnover of 40 per cent or more due to the impacts of the Omicron COVID-19 strain from 1-14 February 2022, compared to the same fortnight in February in the comparison year used for the above criterion; and maintained their employee headcount from the date of the announcement of the scheme.
Eligible businesses will receive 20 per cent of weekly payroll as a lump sum for the month of February, with a minimum payment of $750 per week and a maximum payment of $5,000 per week. Non-employing businesses will receive $500 per week (paid as a lump sum of $2,000).
Support will be available from mid-February.
Small Business Fees, Charges and RAT Rebate
The rebate has been increased from $2,000 to $3,000. In addition, eligible employing small businesses will be able to use the rebate to cover half the cost of Rapid Antigen Tests (RATs).
The funds can be used not only to offset the cost of RATs, but also other Government fees and charges such as food authority licences, liquor licences, tradesperson licences, event fees, outdoor seating fees, council rates and road user tolls for business use.
Already registered businesses will receive an automatic top-up of $1,000 and newly registering businesses will receive a rebate of $3,000.
Commercial Landlord Hardship Grant
The 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.
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 must comprise at least half of any rental reduction provided.
The program is expanded in 2022 to landlords who claimed the 2021 land tax relief.
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.
If you need guidance or require support analysing whether you qualify for the new support measures please get in touch.