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Following the Premier’s announcement for Victoria’s fifth lockdown in July 2021, eligible businesses impacted by the COVID-19 restrictions will be able to seek financial assistance via one of the government’s programs.

The Victorian Government has announced an injection of $282.5 million meaning 90,000 businesses and sole traders will now share in up to $484.3 million in support for 12 days of current vital public health action.

The different types of support programs offered to eligible businesses are listed below:

COVID-19 Disaster Payment

Discussions with the Commonwealth Government have confirmed that the vast majority of micro businesses not registered for GST will be eligible for the Covid-19 Disaster Payment of $600/$375 per seven-day period.

The Victorian Government will establish a concierge service to help these businesses access this support.

To be eligible, you must meet all of the following:

  • you’re an Australian resident or hold a visa that gives you the right to work in Australia
  • you’re 17 years or older
  • you’re not getting an income support payment, ABSTUDY Living Allowance, Dad and Partner Pay or Parental Leave Pay
  • you’re not getting the Pandemic Leave Disaster Payment, a state or territory pandemic payment or a state small business payment for the same period
  • you’ve lost income and don’t have any “appropriate paid leave entitlements”. This must be clarified depending on your personal circumstance.
  • the liquid assets rule for your event.

You must also meet the following rules to be eligible for the recognised Victoria COVID-19 event in July 2021:

  • you live in, work from or have visited a Commonwealth-declared COVID-19 hotspot that is subject to a state restricted movement order or you live in or work from other areas of Victoria
  • you were unable to earn your usual income of 8 hours or more or a full day’s work because you were in the COVID-19 hotspot and are subject to restricted movement or you live or work from other areas of Victoria.

Licensed Hospitality Venue Fund 2021

Eligible Licensed Hospitality Venue Fund 2021 recipients will receive $4,200, taking total payment to $7,200.

Business Costs Assistance Package Round Two

Eligible Business Costs Assistance Package Round Two recipients will receive $2,800, taking total payment to $4,800.

An extension to the Business Costs Assistance Program Round Two will open for applications by the end of July.

Further information will be available soon.

Alpine Business Region Business Support

Alpine businesses that were eligible for grants of up to $15,000 will receive an extra $3,000, on top of any entitlements under Licensed Hospitality Venue Fund 2021 or Business Costs Assistance Package Round Two.

Public Events and Event Suppliers

Eligible public events and public events suppliers affected by the lockdown will receive support of up to $25,000 and $10,000 respectively through an extension of the Impacted Public Events Support Program.

Live Performance Support

A new round of the Live Performance Support programs will provide up to $7,000 for presenters and up to $2,000 for suppliers.

Sporting Clubs Grants Program

The Sporting Clubs Grants Program will provide $2,000 grants for community sport and active recreation organisations for events unable to proceed.

 

We’re here to help
If your business needs assistance with the various Government support payments or on any other matter, our Team is here to assist you.

Please contact us on 03 9808 7377 or send us an email to discuss your business circumstances further.

Disclaimer

This information is provided by Arthur Kyriacou & Co. for educational purposes. It does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. In deciding whether to acquire or continue to hold an investment, you should consider the relevant product guide or product disclosure statement.

We recommend you obtain financial, legal and taxation advice before making any financial investment decision.

Arthur Kyriacou & Co. will not be liable for any losses arising from reliance on this information.

[Source: https://www.coronavirus.vic.gov.au/financial-support-for-businesses-and-workers]