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Economic Stimulus 2022 – Latest Government Incentives – What can your business receive?



JobMaker Scheme

The JobMaker Scheme offers an incentive for small- and medium-sized businesses to expand their workforce and employ younger Australians in need of a job and, in turn, deliver growth potential for those businesses.

Eligible employers must register with the Australian Taxation Office (ATO) who are administering the scheme. JobMaker Hiring Credits are paid each quarter – from 1 February 2021 – for each eligible additional employee hired from 7 October 2020 until 6 October 2021.

Eligible employers may receive a JobMaker Hiring Credit of $200 a week for an employee aged 16 years to 29 years of age AND $100 a week for an employee aged 30 years to 35 years of age.


NSW Small Business Fees and Charges Rebate

The small business fees and charges rebate has increased from $1,500 to $2,000. Eligible businesses can also claim road tolls for business use.

Financial incentives offered by the NSW Government include eligible businesses being offered up to $2000 in rebates to offset the cost of specific NSW state and local government fees and charges incurred during the running of a business.

Sole traders and small business owners must:

  • Have an ABN-registered business operating in NSW; and
  • Have registered for GST; and
  • Have an annual turnover of $75,000 minimum; and
  • Have a total Australian wages below the NSW Government payroll tax threshold in 2020-21 of $1.2 million.

Whilst running a business, NSW state and local government fees and charges befall most small business owners and sole traders: costs such as council rates, outdoor seating fees, event fees, food authority and liquor licences and tradesperson licences.

Eligible applicants can lodge multiple claims – as these types of expenses arise and are paid – until the $2000 rebate cap is reached.

The NSW Government stipulates that for a fee or a charge to be eligible, it must be due and paid from 1 March 2021.

There are some costs that may NOT be claimed:

  • Commonwealth Government charges
  • Any government premises rental amounts
  • Commonwealth Government taxes
  • NSW Government taxes
  • Any fines or penalties
  • Fees and charges incurred with the purpose of changing a small business owner or sole trader’s behaviour, such as but not limited to parking space levies (Transport for NSW), compliance and capacity risk loadings (Liquor & Gaming NSW), environmental prevention and clean-up notice fees and general trading licence fees.


2021 COVID-19 Land Tax Relief (Jul – Dec 2021)

NSW residential and commercial landlords who provide rent relief – between 1 July 2021 and 31 December 2021 – for tenants experiencing financial hardship can apply for up to 100 per cent land tax deduction for the 2021 land tax year. This financial relief is intended to reduce a landowner’s land tax payable for 2021.

A commercial landowner must be leasing land to a commercial tenant with an annual turnover of up to $50 million. Landowners who have already applied for any of the previous relief periods, can also apply for the 2021 land tax COVID-19 relief (1 July 2021 – 31 December 2021) period provided all eligibility requirements are met.


Dine & Discover NSW Vouchers

The NSW Government continues its Dine & Discover NSW voucher program. These vouchers can be used at participating NSW businesses in the hospitality industry. Any NSW resident aged 18 years and over may apply for the vouchers.

From 26 November 2021 Dine & Discover NSW increased from 4 to 6 vouchers.

Vouchers are available to all NSW residents aged 18 or over and are valid to 30 June 2022.

Takeaway businesses are eligible to register for the scheme.


NSW Payroll Tax Relief

NSW payroll tax liabilities are currently deferred for all NSW employers until 14 January 2022.

    Phone YML Chartered Accountants on (02) 83834400 for precise reinstatement to ensure you resume your payments on time.

The NSW Government has announced – not yet finalised – a financial incentive to assist businesses with payroll tax during the 2021-22 financial year. For payroll tax customers with a total 2021-22 Australian wages amount of up to $10 million and whose annual turnover can be shown to have declined by at least 30 per cent, their annual payroll tax liability would be reduced by 50 per cent.

The NSW Government will provide full more information on this 50 per cent reduction when the 2021/2022 annual reconciliation becomes available.


Alfresco outdoor dining grant 

If you are a small or medium food and beverage business wanting to create or expand your outdoor dining area, you may be eligible for a $5,000 rebate under the NSW Government’s Alfresco Restart package.

The rebate is available to the first 5,000 eligible small or medium food and beverage businesses that register.

There are 2 steps involved in the Alfresco Restart rebate:

  1. Register for the rebate
  • Businesses must first register to confirm their eligibility.
  • Registrations will close when 5,000 businesses have successfully registered
  1. Claim the rebate
  • Businesses that have successfully registered can claim their rebate from late February 2022 for expenses incurred from 14 October 2021 to 30 April 2022.
  • Registered businesses will receive an email when the claims process opens.
  • Claims must be made by 30 April 2022.

Summer Holiday Stock Guarantee Grant up to $20,000

As COVID-19 restrictions ease, the NSW Government is committed to supporting businesses to reopen, recover and invest in the future. The public health restrictions in response to the winter 2021 COVID-19 outbreak may have impacted on business confidence to reinvest and plan for the future.

Businesses in the retail and hospitality industries may be eligible to apply for either a single grant payment of up to $20,000 to compensate them for the loss of perishable stock, or a single grant payment of up to $10,000 to compensate them for non-perishable stock.

The application is not yet available as there is no Public Health Closure announced as this is the primary eligibility needed. The SME (small and medium enterprise) summer stock guarantee will help eligible retail and hospitality businesses and not-for-profit organisations recover the costs of lost stock if you are required by a NSW Government public health order to close for at least 7 consecutive calendar days between 1 December 2021 and 31 January 2022. There might be a chance that this would be extended.


How can YML help?

Talk to our YML Chartered Accountants Team today to see how YML Group can assist you with government financial assistance. For more information, view view our website and contact us on (02) 8383 4400 or by using our Contact Us page on our website.

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