2022 Small Business Support Program - applications now open

top workspace ZUQSBU4E5B2

 

 

Further to our Newsletter last month, applications have now opened for businesses to apply for the 2022 Small Business Support Program.

 

The 2022 Small Business Support Program has similar eligibility tests and rules to JobSaver. To recap;

 

Eligibility Criteria

  • You must have a turnover between $75,000 and $50 million;
  • You need to be able to demonstrate a decline in turnover of 40% in January 2022 compared to January 2021 or January 2020; 
  • You need to be able to demonstrate a decline in turnover of 40% in the first fortnight in February, compared to the first fortnight in February in either 2021 or 2020 (and must be the same year you compare for January);
  • Calculation of your decline in turnover is based on the same revenue basis as you are registered for GST, i.e., on a cash received basis or accruals basis;
  • Employing businesses must maintain their employee headcount from 30 January to 28 February 2022;
  • Non-employing businesses (e.g. sole traders) will have to show that the business is the primary income source (50% or more of total income) for the associated individual.

If you qualify, you will receive 20% of your weekly payroll as a lump sum after your application is approved. The minimum payment will be $750 per week, and the maximum will be $5,000 per week. This payment will last a month (i.e. for February). For non-employing businesses, e.g. sole traders, you may be eligible for $500 per week, paid as a lump sum of $2,000.

 

How and when to apply

 

Applications are open until the 31 March 2022 and follows the same process as JobSaver, i.e., via your Service NSW Login. It requires a letter from your accountant in most cases. 

 

You can access the online application here.

 

There is a list of Industries Directly Impacted by the Public Health Order that do not require an Accountants letter to claim support payments.

 

What do you need to do?

 

If you would like assistance to determine your eligibility, please contact us.  We can also assist with preparing the necessary documents for you to upload with your application. Please get in touch with us and we can provide you with a fixed fee quote for this work.

 

We are here to help.  If you have any questions regarding the 2022 Small Business Support Program, please feel free to contact our team of experts.

View all posts

MILROY ACCOUNTING PROFESSIONALS

Milroy Accounting Professionals has served the Macarthur for over 20 years, including Camden, Narellan, Campbelltown, Liverpool and more recently Smeaton Grange, Gregory Hills and Oran Park. We deliver professional accountancy and compliance, bookkeeping and business advisory services to retail, commercial, industrial and trades firms, whether large or small.

Client Portal

Contact Us

(02) 4646 1025

(02) 4648 2561

admin@milroyaccounting.com.au

23/1 Elyard St Narellan, NSW, 2567

  • © 2022 Milroy Accounting Professionals |
  • Website by Solutions Outsourced

  • Liability limited by a scheme approved under Professional Standards Legislation.
XERO Milroy MYOB Tax Agent Milroy