The government has extended a Business Assistance Package, especially for businesses most impacted by Level 2 public health and social measures. Under the Small Business Hardship Grants Program the businesses will receive tiered grants. The prerequisite is that these businesses have a 50 percent or greater reduction in turnover for any four week period between 1 January 2022 and 30 April 2022, relative to the same period last year. This will include:
- $3,000 grant for sole traders (no employees);
- $7,500 grant for micro businesses (those with one to five employees);
- $20,000 grant for small businesses (those with six to 19 employees); and
- $50,000 for medium-sized businesses (those with 20 or more employees and with an annual payroll of up to $4 million).
The support program is for all eligible businesses that meet the criteria, including the hospitality, arts and events industries.
Additionally, large hospitality businesses with payrolls of between $4 million and $20 million will receive a three-month payroll tax waiver. They will be applicable if they have experienced at least a 50 percent drop in turnover over any four-week period between 1 January 2022 and 30 April 2022, comparable to the same period last year.
Other businesses that might have enrolled for similar support programs, including the Level 1 COVID-19 Business Assistance Package, are also eligible to receive grants from the Level 2 Assistance Package.