To access the assistance your business must;
- Have an aggregated annual turnover of between $75,000 to $50 million for the 2021 financial year, and
- Experienced a decline in turnover of at least 40% due to Public Health orders or the impact of COVID-19 during the month of January 2022 compared to the same month in either 2021 or 2022, and
- Experienced a decline in turnover of 40% or more from 1 to 14 February 2022 compared to the same fortnight in either 2020 or 2021, and
- Maintain your employee headcount from 30 January 2022.
The NSW Business Support package provides eligible employing businesses with a lump sum payment of 20% of weekly payroll, up to a maximum of $5,000 per week for the month of February 2022. The minimum weekly payment for employers is $750 per week.
The support package only covers the month of February 2022. Applications for support are expected to open in mid-February.
Should you require further information in relation to the NSW Government support please feel free to contact Peter Quinn by submitting an enquiry or calling us on +61 2 9580 9166 to book an obligation free appointment.
The information in this document does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. It is important that your personal circumstances are taken into account before making any financial decision and it is recommended that you seek assistance from your financial adviser.