NSW Government Small Business Support Program (SBSP) - Opening This Week

Updated: Feb 22

The NSW Government Small Business Support Program (SBSP) is designed to provide cash flow for NSW businesses impacted by the current Omicron wave of COVID-19.


Applications are open until 11:59pm 31 March 2022.


Eligible business will receive one lump sum payment covering the four weeks in February 2022.

The payment will be the equivalent to 20% of weekly payroll for work performed in NSW:

  • Minimum payment of $750 per week

  • Maximum payment of $5,000 per week

  • Non-employing businesses payment of $500 per week

Weekly payroll will be based on the most recent BAS or IAS lodged with the ATO within FY22.

Applicants will be required to complete an online application through Service NSW.


Eligibility

Businesses impacted by COVID-19 will be eligible if they:


  • have an active Australian Business Number (ABN)

  • were operating in NSW on 1 January 2021

  • had annual turnover of between $75,000 and $50 million for the year ended 30 June 2021 or 30 June 2020

  • had a decline in turnover of 40% or more during January 2022, compared to January 2021 or January 2020 AND

  • experienced a decline in turnover of 40% or more from 1–14 February 2022, compared to the same fortnight in February 2021 or February 2020

  • sole traders must show the business receiving payments is the primary income source of the individual

  • businesses must maintain their employee headcount from 30 January to 28 February 2022.


What You Need To Apply

  • a MyServiceNSW Account

  • your proof of identity

  • your valid ABN

  • your business banking details for payment

  • evidence of your annual turnover and loss of income

  • most recent Australian Income Tax Return for 30 June 2020 or 30 June 2021

  • letter from a qualified accountant, registered tax agent or registered BAS agent confirming decline in turnover – where required


For more information visit Service NSW - Small Business Support Program Eligibility.


Sullivan Dewing will be working through your specific circumstances to make sure that you get the support that you are eligible for.


As always if you have any questions please do not hesitate to contact your Client Manager.




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