Omicron support package for NSW businesses

The New South Wales government has unveiled a new $1 billion funding package designed to help support businesses hardest hit by the outbreak of the Omicron COVID-19 variant in the state.

What’s available?

Small Business Support Program

For the month of February, eligible employing businesses can apply for payments equivalent to 20% of their weekly payroll.

The minimum payments will be $750 per week, and the maximum will be $5000 per week.

Non-employing businesses and sole traders will be eligible to receive $500 per week.

Payments are available for the month of February only, and will be paid in one lump sum.

That means a sole trader will be eligible for a one-off $2000 payment, for example. The maximum payment available for a business will be $20,000.

Small Business Fees, Charges and RAT Rebates

The existing Small Business Fees and Charges Rebate scheme is also being increased from $2000 to $3000.

Businesses with employees will also now be able to claim rebates on the cost of RATs for staff.

The scheme is already available to help offset the cost of food authority licences, liquor licences, tradesperson licences, event fees, outdoor seating fees, council rates and road user tolls for business use.

Who’s eligible?

Small Business Support Program

The small business support program is available to businesses with an annual turnover of between $75,000 and $50 million for the year ending June 30, 2021.

Businesses must have seen a 40% decline in revenue in January 2022 due to public health orders or the impact of the Omicron COVID-19 outbreak, compared to January 2020 or 2021.

Businesses must also have also seen a decline in turnover of 40% or more, due to the Omicron outbreak, between February 1 and 14, compared to the same period in 2020 or 2021.

Finally, businesses must have retained their employee headcount as of the announcement of the scheme on January 30 2022.

Small Business Fees, Charges and RAT Rebates

To apply for the rebates scheme, businesses must have total Australian wages below the NSW 2020-21 payroll tax threshold of $1.2 million.

How can I apply?

Small Business Support Program

Applications for this program are expected to open in mid-February. Businesses will be able to apply through Service NSW.

Small Business Fees, Charges and RAT Rebates

Businesses that are already registered for the scheme will automatically be issued a $1000 top-up payment.

Businesses can apply online for the rebate scheme here.