With the NSW Government’s recent announcement of a new support package for eligible business, I thought it would be a good time to remind our NSW and VIC business clients of what assistance still available for them.

The latest announced NSW support program will provide eligible businesses a lump sum payment equal to 20% of their weekly payroll, with a minimum payment of $750 per week to a maximum of $5000 per week. Eligible non-employing businesses will receive a payment of $500 per week paid as a lump sum of $2000. For businesses to be eligible, they will need to have a turnover between $75,000 and $50 million and experience a minimum 40% downturn in turnover between January 2022 and the first fortnight of February 2022, compared to the same period in 2021 or 2020. Businesses are also required to have maintained their employee headcount as of 30 January 2022.

At this stage, the support package is only scheduled to be for the month of February 2022 and applications will open through Service NSW from mid-February 2022.

In addition, the NSW Government have also announced an increase from $2000 to $3000 for the small business fees and charges rebate. This rebate can be used by eligible NSW businesses to offset the cost of Government fees and charges paid from the 1 March 2021, including liquor licences; tradesperson licences; event fees; council rates; and outdoor seating fees. The increase will also allow eligible NSW businesses to use the rebate against 50% of the cost of rapid antigen tests purchased for employee use.

Commercial landlords whose properties are based in NSW and have provided rental waivers to tenants may still be eligible for a maximum grant of $3000 per month per property. This is provided that the rent they have waived is greater than 50% of the total normal monthly rent for the period between 1 August 2021 to 14 November 2021. Applications for this grant close by the 31 March 2022 so it is best to get on top of it as soon as you can.

Our Victorians have certainly not been forgotten as the Victorian government have also announced the extension of their commercial tenancy relief scheme. Applications are even more imminent and close on the 15 March 2022. To help resolve any rent disputes, commercial tenants with an annual turnover under $10 million, who can demonstrate a declined turnover of at least 30% due to the impact of COVID 19, will be eligible to access free mediation services to assist in coming to an agreement with their landlords.

As with all of these measures, if you are unsure about your eligibility status or would like to learn more about these support packages, contact our team on 1300 365 125 or email us at [email protected]. It is important to take charge now and make the best decision for your business.