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2022 NSW Small Business Support Program
Dawson & Partners • Feb 28, 2022
If you're a business, sole trader or not-for-profit organisation in NSW and you've been impacted by the Omicron wave of COVID-19, you may be eligible for a payment under the 2022 Small Business Support Program.
Eligible businesses will receive one payment covering the 4-week period of February 2022. Businesses will not receive payment for January 2022. The payment equivalent of 20 per cent of weekly payroll for work performed in NSW:
- the minimum payment will be $750 per week, and
- the maximum payment will be $5,000 per week.
Eligible non-employing businesses will receive $500 per week.
Applications opened on 16 February 2022 and close at 11:59pm on 31 March 2022.
Eligibility
To be eligible, a business must:
- have an active Australian Business Number (ABN);
- have been operating in NSW on 1 January 2021;
- have had an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2021 or 30 June 2020;
- have experienced a decline in turnover of 40% or more due to the impacts of COVID-19:
- during January 2022, compared to January 2021 or January 2020
- from 1 to 14 February 2022, compared to the same fortnight in February 2021 or February 2020;
- for employing businesses, maintain your employee headcount from 30 January to 28 February 2022;
- for non-employing businesses, such as sole traders, show that the business is the primary income source (50% or more of the total income) for the associated person. If you have more than one non-employing business, you can only claim payments for one business.
Alternative circumstances
If your business does not meet all the eligibility criteria, you may be able to apply for the 2022 Small Business Support Program if you can provide evidence to support the alternative circumstances outlined in the guidelines .
Evidence to support eligibility
- submit your most recently lodged Australian income tax return, with tax file numbers redacted, demonstrating an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2020 or 30 June 2021, or for registered charities, your ACNC Annual Information Statement;
- provide evidence of how the weekly payroll amount was calculated, through:
- your most recent BAS or IAS within the 2021–22 financial year,
- your 2020-21 payroll tax reconciliation return, or
- a copy of your business's payroll report filed using Single Touch Payroll (STP);
- provide other supporting documents, which may include:
- letter of authority, if you are not listed as an associate on the Australian Business Register,
- a letter from your accountant, tax agent or BAS agent to verify your business's 40% decline in turnover during the month of January 2022,
- audited profit and loss statements,
- receipts and invoices from purchases,
- NSW payroll tax reconciliation returns;
- identify how the public health order has directly impacted the turnover of the business.
What you need
- a MyServiceNSW Account – you can create one when you start your application
- two proof of identity, they may include:
- Australian driver licence
- Medicare card
- Australian passport
- Australian birth certificate
- Australian travel visa
- Australian citizenship certificate
- Australian certificate of registration by descent
- Australian ImmiCard.
- your valid ABN/ACN number
- your business banking details for payment
- evidence of your annual turnover and loss of income
- Australian income tax return, or for registered charities, your ACNC Annual Information Statement
- qualified accountant, registered tax agent or registered BAS agent details, where required.
If your application is approved, the funds will be transferred to your nominated bank account within 5 to 10 business days from the approval date.
How to apply
Details of Small Business Support Program can be accessed here .
The application can be lodged online through Service NSW website. Or if you are not able to apply online, you can call 13 77 88.
If you would like any further information or assistance with Small Business Support Program please contact us on 1300 885 761 .
Christmas 2022
You may have heard about the new rules which require directors of Australian companies to obtain a Director Identification Number (director ID). It is a unique 15-digit identifier that directors apply for once and keep forever. The following provides some useful further information. As a director of my SMSF’s corporate trustee do I need a director ID? The new requirement to obtain a director ID applies to all directors of corporate trustees of an SMSF. The only exclusion applies to a director who has resigned from all director roles during the period 04 April 2021 to 30 November 2022 and has no intention to ever be appointed as a director or alternate director of an Australian or foreign company. How long do I have before I need to get my director ID? Individuals that were a director of any company prior to 1 November 2021 have until 30 November 2022 to get a director ID. This transitional period also applies to newly appointed directors of corporate trustees of an SMSF, provided they were an existing director, of a company, before 1 November 2021. Otherwise, first time directors are now required to have a director ID before they are appointed as director of any company. What is the fastest way to apply for a director ID? With 30 November 2022 fast approaching, we strongly encourage all directors to apply for their director ID now. The fastest way to apply for your director ID is online at abrs.gov.au/directorID . To access the director ID application online, you will use your myGovID to log in to ABRS (Australian Business Registry Services) online. This director ID demonstration video will show you step by step, how to apply for your director ID online. What to do if you do not have a MyGovID already? A myGovID is different to your myGov account. Your myGov account allows you to link to and access online services provided by the ATO, Centrelink, Medicare and more, while myGovID is an app that enables you to prove who you are and to log in to a range of government online services, including myGov. If you do not already have a myGovID you will need to set this up before you can apply for your director ID online. Refer to mygovid.gov.au/setup for more information on setting up a myGovID. You will need to choose your identity strength, noting that ‘standard’ identity strength is the minimum strength required for a director ID. What if I can’t set up myGovID online? Where you are experiencing difficulties setting up your myGovID, the ATO encourages you to contact them on 13 62 50. To speed up the phone application, please have your TFN ready as well as the information listed below, required to verify your identity. If you cannot apply online or over the phone, the ATO will provide you with a paper form to complete. This is the least preferred option and will require you to provide certified copies of your documents to verify your identity. Can we help you get your director ID? You must apply for your director ID yourself, so that the ATO can verify your identity. To verify your identity against your ATO records, once you have logged into ABRS online using myGovID, you'll need your tax file number, your residential address held by the ATO, and information from two of the following documents: bank account details (where your tax refunds or payments are made and received) an ATO notice of assessment a dividend statement a Centrelink payment summary a PAYG payment summary (this is different to your income statement or your PAYG instalment activity statement). How can we help? If you have any questions or would like further information about director IDs, please feel free to give us a call on 1300 885 761, so we can discuss your requirements in more detail. Although we are unable to apply for a director ID on your behalf, we would be more than happy to guide you through the process and where possible, source documents to help you verify your identity with the ATO. For other information, resources, and timely updates relevant to your SMSF, please refer to the SMSF Association’s trustee education platform, SMSF Connect.
All employers are required to pay and report super guarantee payments electronically to ensure they meet SuperStream requirements. With the introduction of SuperStream it is now easier for the ATO to monitor your payments to ensure they have all been paid on time. Super guarantee payments must be made by employers to their employees' complying funds by quarterly due dates, which are 28 days after the end of each quarter. The due dates for each quarter are as follows: