*This information is correct as of 23 July 2020

With further restrictions in place across Melbourne for the next number of weeks, including wearing masks and remaining at home, there are many businesses of varying sizes that are looking at continuing COVID-19 resources and assistance in a variety of ways. We have collated some great information below, however we always recommend speaking to a qualified professional - such as Booksonsite - for further assistance.

Covid 19 Closed

Business Support Package

There is a new, $534 million Business Support Package will provide more support to help businesses and workers across Victoria. This package will include the following:

  • Business Support Fund: Offering over 80,000 eligible Victorian businesses a new $5,000 grant to support them through the renewed restrictions. 
    • This grant was made available to the 12 postcodes linked to outbreaks previously, however now applies to all areas under Stage 3 restrictions.
  • Night Time Economy: A $30 million dedicated fund for Victoria’s night time economy to support the hardest hit businesses in hospitality.
  • Mental Health: $26 million in mental health support to assist business owners with the compounding challenges of running a small business during the COVID-19 crisis.
  • Business Mentoring: A $10 million business mentoring program, which promotes the pairing of small business owners with experienced professionals who can assist them to navigate their way through the crisis.
  • Regional Tourism: A $40 million capped fund for regional tourism businesses to cover the costs of refunds.
  • Small Melbourne CBD Businesses: A $20 million fund to support small businesses in Melbourne’s CBD that are faced with a large and sustained shock to their trading environments

Additionally, eligible businesses will also benefit from an extended and expanded payroll tax deferral - those with payrolls up to $10 million can defer their liabilities for the first half of the 2020/21 financial year.

Business Support Fund Expansion

Due to the reinstated Stage 3 restrictions, there are a range of businesses across Victoria that are required to cease trading again. These restrictions will be in place for six weeks and will then be reviewed by the Chief Health Officer. To assist businesses with the ongoing stress of another lockdown, eligible businesses affected by the return to Stay at Home restrictions may be eligible for a one-off, $5,000 grant under the Business Support Fund program. 

In order to apply for the one-off grant, a business must meet the following criteria:

  • Operate a business located in an area that is under a Stay At Home order.
  • Be a participant in the Commonwealth Government’s JobKeeper Payment scheme.
  • Employ people.
  • Be registered with WorkSafe on 30 June 2020.
  • Have an annual payroll of less than $3 million in 2019-20 on an ungrouped basis.
  • Be registered for GST as at 30 June 2020.
  • Hold an ABN and have held that ABN as at 30 June 2020.
  • Be registered with the responsible Federal or State regulator.

A few other things to note include:

  • Businesses that have received funding from other parts of the Victorian Government’s Economic Survival Package can apply for this grant.
  • Business owners that do not employ people (non-employing businesses) are not eligible for funding through this program.
  • A business, as defined by its ABN, can only receive one grant under this Fund.
  • Applicants are required to apply online via the Business Victoria website. 
  • Applications for the program close on 19 August 2020.

More information can be found here.

Regional Tourism Accommodation Support Program

Accommodation providers across regional Victoria who have an ABN will be able to make a claim for a payment of up to $225 per night (up to a maximum of $1,125.00) per bookable accommodation offering for the period of the Stage 3 ‘Stay at Home’ restriction period. This is provided they have refunded in full the booking to a person/s who can no longer travel as a result of restrictions in Victoria, or from state border restrictions.

The program is available to accommodation providers in the eleven Victorian Regional Tourism Regions (48 regional and rural councils plus a number of interface councils in the Yarra Valley and Mornington Peninsula; Victoria’s six ski resorts; Gabo, French, Lady Julia Percy Islands).

The accommodation provider must be registered with an ABN prior to 30 June 2020 to make a claim. Applications for this support program are open from 13 July 2020 until the end of the current lockdown or when funds are exhausted.

More information can be found here.

CBD Business Fund

The Victorian Government is establishing a $20 million CBD Business Support Fund to help small businesses in Melbourne’s CBD faced with a large and sustained shock to their trading environments. More details will be available soon, however you are able to register your interest on the Victorian Government website to receive updates. 

More information can be found here.

Night-time economy support program

The Victorian Government has launched a $30 million dedicated fund for the hardest hit businesses in hospitality. More details will be available soon, however you are able to register your interest on the Victorian Government website to receive updates. 

More information can be found here.

Resources:

https://www.business.vic.gov.au/disputes-disasters-and-succession-planning/coronavirus-covid-19/coronavirus-business-support

https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-support-package

https://www.business.vic.gov.au/disputes-disasters-and-succession-planning/coronavirus-covid-19/Coronavirus-COVID-19-business-support-and-financial-assistance-finder

https://knowyourcouncil.vic.gov.au/

This information is to be used as a guide only. Always complete your own research and speak to the relevant qualified professionals before making any decisions, as every set of circumstances differs.

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