New financial support for businesses affected by Omicron

Businesses struggling with revenue during the Omicron outbreak can apply for new targeted funding, as announced by the government on Monday 21st February.

Applications for the first payment open on February 28, with payments starting from March 1.

There will be 3 payments in total, available on a fortnightly basis. The new scheme is based on the understanding that the Omicron outbreak will pass over about 6 weeks. This scheme may be extended.

Each COVID Support Payment will be $4000 per business plus $400 per full-time employee, capped at 50 FTEs or $24,000. This is the same rate as the most recent Transition Payment.

Who is Eligible?
Eligible Businesses must show a 40 percent drop in 7 consecutive days within the 6 weeks prior to the shift to Phase 2 of the Omicron response on February 15, compared to 7 days after that date.

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