The NSW Government recently announced a new COVID-19 support program for businesses for the month of February 2022.

Registrations open on 14 February and close on 31 March.

Eligibility criteria for the business:

had an ABN and operated as at 1 January 2021;
>50% of income ≠ passive (e.g. dividends, rent, interest);
not an ineligible business (banks, government bodies, in bankruptcy or administration, universities…)
aggregated global turnover between $75,000 and $50 million in the latest lodged Income Tax Return (2021 or 2020 only)*;
January 2022 turnover at least 40% down from January 2021 or January 2020 turnover, as a result of the impact of COVID-19;
1 Feb – 14 Feb 2022 turnover at least 40% down from the respective period in the year used above, as a result of the impact of COVID-19; and
maintain your employee headcount between 30 January 2022 and 28 February 2022.

* For employers with substituted accounting periods (e.g. December year-end), the Income Tax Returns for the years ended prior to 30 June 2021 or 2020.

There are also alternative circumstances tests, so do contact us if you would like to find out about these

For non-employing businesses, note also:

This must represent ≥ 50% of the associated individual’s income source;
Only one non-employing business can claim the grant per associated individual;
The business may not be connected with an employing business for aggregation of turnover purposes;
This does not prevent eligibility for the Commonwealth Pandemic Leave Disaster Payment.

Grant (1 lump sum):

Employers – for each of the 4 weeks: $750 or 20% of “weekly payroll” (capped at $5,000)
Non-employers – for each of the 4 weeks: $500

Note the convoluted definition of “weekly payroll”:

If wages have been previously reported in an Activity Statement relating to July 2021 to January 2022, use the latest one of these Activity Statements and extract the portion of the reported W1 amount that relates to NSW employees. Then divide it by the number of calendar days in the period reported on, and multiply it by 7.
If no such Activity Statement is available, use the same figure you would have reported had you lodged one for the month of November or December 2021 (whichever is the most reflective of usual conditions).

If you feel the above was complex, the information to be submitted takes several pages to explain, based on case-by-case circumstances. We will need to look at your situation to guide you on documentation requirements.

As expected, the guidelines raise almost as many new questions as they answer, and we expect more details over the coming weeks. Time will tell if these bring more clarity or confusion.

We will assist you as best we can to navigate through these and submit your applications if needed. So contact your Accru adviser today if you have any questions!