This Small Business Support grant 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. Eligible non-employing businesses will receive $500 per week (paid as a lump sum of $2,000). This support package only covers the month of February 2022. Applications to apply for this grant are now open.
Small Business Support Program Eligibility
To access the package, businesses must:
- Have an aggregated turnover between $75,000 and $50 million for the year ended 30 June 2021; 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 January 2021 or January 2020; and
- Experienced a decline in turnover of 40% or more from 1 to 14 February 2022 compared to the same fortnight in either 2021 or 2020 (you must use the same comparison year utilised in the decline in turnover test for January); and
- For employing businesses, maintain their employee headcount from 30 January 2022 to 28 February 2022 (this means the employer will not take active steps to end the employment relationship with their employees).
- For non-employing businesses show that the business is the primary income source (50% or more of the total income) for the associated person.
To apply for the above grant, follow the link below:
If you have any questions in regards to the eligibility requirements to apply for the above grant, please don’t hesitate to contact Waterford Accountants.