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Many businesses in Melbourne and Mitchell Shire have been severely impacted by the introduction of Level 4 restrictions aimed at stopping the further spread of Coronavirus. These restrictions mean many businesses will have to close or operate at limited capacity.
To soften the financial blow the Victorian Government has announced an extension to the Business Support Fund. Eligible businesses will be able to apply for:
- $10,000 for employing businesses in metropolitan Melbourne and Mitchell Shire in recognition of spending longer under restrictions
- $5,000 for employing businesses in regional local government areas (except Mitchell Shire)
Businesses that have already received a Business Support Fund – Expansion grant, or have applied for one, will not need to re-apply. Successful applicants will automatically receive this additional allocation.
Businesses must fulfill all the following criteria to apply:
- operate a business located within Victoria; and
- participate in the Commonwealth Government’s JobKeeper Payment
scheme; and - employ people; and
- be registered with WorkSafe on 30 June 2020; and
- have had an annual payroll of less than $3 million in 2019-20 on an
ungrouped basis; and - be registered for Goods and Services Tax (GST) as at 30 June 2020; and
- hold an Australian Business Number (ABN) and have held that ABN at 30
June 2020; and - be registered with the responsible Federal or State regulator.
A sole trader or a partnership must employ people other than themselves to be eligible.
Applications for the program will be extended until 14 September 2020.
This funding allocation is in addition to the first round of the Business Support Fund, which closed on 1 June 2020.
Full details of the support package can be found here.
For Business Support Funds FAQs click here.
In the meantime, if you have any queries or concerns, please do not hesitate to contact us.
The Business Support Fund [released 15 July 2020]
The Victorian Government has unveiled a new $534 million Business Support Package that will provide additional support to help businesses and workers through to the other side of the coronavirus (COVID-19) pandemic.
Central to the package is a one-off $5000 cash grant to eligible businesses within metropolitan Melbourne and Mitchell Shire that are affected by the return to Stay at Home restrictions. Applications for the Business Support Fund program close on 19 August 2020.
Grant eligibility criteria includes:
- be participating in JobKeeper
- be a registered business with employees
- be registered with WorkSafe as at 30 June 2020
- annual payroll of less than $3 million in FY2019-20
- be registered for GST as at 30 June 2020
- hold an ABN and held that ABN as at 30 June 2020
Also included in the new support package are:
- A $30 million dedicated fund for Victoria’s night-time economy to support the hardest hit businesses in hospitality.
- $26 million in mental health support will ensure Victorians dealing with the compounding challenges of running a small business can get the support they need as they navigate their way through the crisis.
- A $10 million business mentoring program, pairing small business owners with experienced professionals who can help them navigate their way through the crisis.
- A $40 million capped fund for regional tourism businesses to cover the costs of refunds.
- 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
- Extended and expanded payroll tax deferral. Eligible businesses with payrolls up to $10 million can defer their liabilities for the first half of the 2020/21 financial year.
Full details of the Victorian support package can be found at:
https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-support-package
In the meantime, if you have any queries or concerns, please do not hesitate to contact us and ask us about our business services.
