The Victorian government has committed $500 million in funding support programs for eligible small and medium-sized businesses affected by the circuit-breaker restrictions imposed on the state on May 29.
Federally, Prime Minister Scott Morrison has announced a $500 disaster payment for every week an individual loses income during the lockdown. Victorians will be the first to access the support program.
The support offered
Business Costs Assistance Program
Update 9 June
A $7,000 grant for eligible businesses directly affected by the industry restrictions, including restaurants and cafes, event suppliers, accommodation providers and non-essential retailers. Tourism businesses in regional and metropolitan Melbourne that receive the Tourism Supplement will not receive this top-up payment. Their payments have already reached $7,000.
Licensed Hospitality Venue Fund
A $7,000 grant for businesses holding an eligible liquor license and food certificate for eligible businesses in metropolitan Melbourne.
Businesses that receive a grant under the Licensed Hospitality Venue Fund 2021 are not eligible for a grant under this program.
Details are yet to be shared on how the government will allocate the $20 million earmarked to the Events industry.
Who can apply?
To be eligible, businesses must:
- be located within Victoria;
- operate in an eligible sector listed in the list of eligible ANZSIC classes for this program;
- have incurred direct costs because of the restrictions and cannot fully operate remotely;
- have an annual Victorian payroll of up to $10 million in 2019-20 on an ungrouped basis;
- have been registered for Goods and Services Tax (GST) on Thursday 27 May 2021;
- hold an Australian Business Number (ABN) and have held that ABN at Thursday 27 May 2021;
- be registered with the responsible Federal or State regulator.
Employing businesses must also:
- be registered with WorkSafe Victoria;
- attest that the business is supporting its workers to access any paid leave entitlements, or that if a person can work from home, to work from home during the circuit breaker action, and supporting their casual workers, where possible.
How to apply
Go to business.vic.gov.au. Applications are open and remain so until 11.59pm on Thursday, 24 June 2021. Businesses will only need to fill one application.
Temporary COVID Disaster Payment for Individuals
To be eligible, an individual must:
- have been in paid employment immediately prior to the initial state restrictions or lockdown
- be at least 17 years of age
- be living or working in a Commonwealth defined COVID-19 hotspot
- be unable to work due to the COVID-19 lockdown
- be an Australian resident who is permitted to work in Australia
- not be receiving or eligible for other leave entitlements from their employer, namely Sick Leave, Personal Leave or another COVID related employer leave payment
- have liquid assets available of less than $10,000, and
- not be receiving other government income support or pandemic payments.
To apply, go to Services Australia. Individuals will need to declare 20 hours more or less they would have normally worked and have less than $10,000 in liquid assets.
We’re here to help. Contact your Accounting Services Director or Manager, alternatively ask our Business Services team on 03 9820 6400.