Update to Victorian Government’s support for businesses

Current support available for businesses

Business Costs Assistance Program

• Payments of $2,800 per week to assist businesses in meeting overhead cost during lockdown
• Businesses previously eligible for Business Costs Assistance Round two or the July extension programs will automatically receive these payments.

Licensed Hospitality Venue Fund

•  Weekly payments made to licensed venues based on capacity limits:
  • $5,000 for venues with capacity of up to 99 patrons
  • $10,000 for venues with capacity between 100 and 499 patrons
  • $20,000 for venues with capacity for more than 500 patrons
• Payments will automatically continue for previous recipients of the grant.

Small Business COVID Hardship Fund

• Small business with a payroll up to $10 million who have experienced a 70 per cent or greater reduction in revenue will be eligible for a grant of up to $14,000
• Businesses must be registered for GST and hold an ABN at 28 July 2021
• Applications can be made via business.vic.gov.au and close on 10 September 2021.

Alpine Resorts Winter Program

• This program will be extended with grants of between $5,000 and $20,000 per week for eligible businesses
• Grants vary depending on locations and type of business
• Applications are able to be made by business.vic.gov.au and close on 17 September 2021.

COVID-19 Disaster Payments

• Eligible workers will continue to receive the COVID-19 disaster payment, including sole trader who do not qualify for other grants
• Payments of $750 per week will be made where more than 20 hours of work is lost and payments of $450 per week where between 8 and 20 hours of work is lost.
• Applications are able to be made through Services Australia.

Further information

For more information on these announcements, please visit:

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

Bentleys has reported on the Victorian Government’s earlier announcements.

• Victorian government announces third wave of support for business

We are committed to supporting businesses during this challenging time. For further information or assistance, please contact your Bentleys advisor.

Disclaimer: This information is general in nature and should not be relied on as advice. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs and seek professional advice before making any decisions based on this information.