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The Victorian Government’s Small Business COVID Hardship Fund will close at 11:59pm Friday 10th September 2021.

The $180 million program has been introduced to assist businesses whose operations have been severely impacted by COVID-19 restrictions in place between 27 May 2021 and August 2021 – provided the standard and other eligibility criteria for the program are met.

Eligibility for the Fund

In order to be eligible for the Fund, businesses must have experienced a reduction in turnover of at least 70%, as a result of restrictions imposed across the state from 27 May 2021 to August 2021.

Businesses that apply for the grant will have to:
– prove a decrease in turnover of at least 70%;
– be registered for GST;
– not be eligible for other Victorian COVID-19 business grant programs that have been announced since 27 May.

All applications must include evidence of a reduction in turnover of at least 70% for a minimum consecutive two-week period since 27 May 2021, when compared to a trading period not affected by COVID-19 restrictions –

e.g. the business’ best two-week trading period between 27 May and 10 September 2019 against the business’ worst two-week trading period between 27 May and 10 September 2021.

Please note that due to an extension to Lock down 6.0 in Victoria, the total grant amount has increased from $14,000 to $20,000 on 4 September 2021.

We’re here to help

Should you require our assistance in assessing your eligibility for this grant or submitting an application on your behalf, please contact our office as soon as possible.

If we have already assisted you with your grant submission, and you have received funds through the COVID Hardship Fund program, you will receive an automatic top-up payment of $6,000 into your nominated bank account in due course.

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://business.vic.gov.au/grants-and-programs/small-business-covid-hardship-fund]