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More support for Victorian businesses affected by COVID-19 lockdowns

alfcouceiro_img2
Published by:
Alf Couceiro
Published on:
August 23, 2021
Covid-19 Victorian and Commonwealth Government additional support for small and medium businesses

The Victorian and Commonwealth governments have announced an additional $400 million of support for Victorian small and medium businesses affected by the COVID-19 lockdowns.

Here’s a summary of the support available:

Business Costs Assistance Program Round Two (July Extension)

Who’s eligible?

Businesses with certain classifications (ANZSIC) that incurred direct costs because of the COVID-19 restrictions and cannot fully operate remotely.

They must not have previously applied for the program in June, or have since become eligible to apply.

How much is available?

A one-off grant of $4,800.

When do applications close?

11.59 pm on Friday 20 August 2021.

More information

Licensed Hospitality Venue Fund 2021 (July Extension)

Who’s eligible?

Licensed hospitality venues affected by the COVID-19 restrictions announced on July 15 but which did not apply for the Licensed Hospitality Venue Fund 2021 in June 2021

How much is available?

One-off payment of $7,200.

When do applications close?

11.59 pm on Friday 20 August 2021.

More information

Alpine Resorts Winter Support Program (August Extension)

Who’s eligible?

Four hundred and thirty Alpine-based businesses in recognition of restricted inter-and intra-state travel during the peak winter season.

How much is available?

One-off grants of between $5,000 (off-mountain) and $20,000 (employing businesses, on mountain).

When do applications close?

11.59 pm on Friday 20 August 2021.

Do I need to apply?

If you’re an eligible business, you should receive a phone call from the Department of Jobs, Precincts and Regions; they’ll help you through the application process.

If you haven’t received a phone call and you think you’re eligible, email alpineprograms@ecodev.vic.gov.au

More information

Small Business Hardship Fund

Who’s eligible?

Small and medium businesses that experienced a reduction in turnover of at least 70% for a two-week period since 27 May 2021.

Your business must not have received funding under any of the Victorian Government COVID-19 support packages launched on or after 27 May 2021.

How much is available?

One-off payment of $10,000.

When do applications close?

10 September 2021.

More information

Business Continuity Fund

Who’s eligible?

Businesses in 24 sectors impacted by additional capacity limits when reopening in late July under COVID-19 restrictions.

They must have received or been eligible for the Business Cost Assistance Program Round Two and Business Cost Assistance Program Round Two (July Extension).

How much is available?

One-off payment of $5,000 ($7,000 for businesses located in Melbourne’s CBD).

Do I need to apply?

No — it’s an automatic payment to all eligible recipients (about 30,000 businesses).

More information

Commercial Tenancy Relief Scheme

Who’s eligible?

Businesses with an annual turnover of less than $50 million and who have suffered a decline in turnover of at least 30% due to COVID-19.

(Separate support will be provided to landlords who do the right thing by their tenants.)

How much is available?

Landlords will be required to provide proportional rent relief in line with the tenant’s reduction in turnover.

Tenants and landlords will be encouraged to enter negotiations directly; if necessary, the Victorian Small Business Commission can provide free and impartial mediation.

When does the scheme take effect?

28 July 2021 (it will operate until 15 January 2022).

How do I apply?

Even if you were eligible for the Victorian Government’s previous rent relief scheme (pre-July 28), you’ll have to submit a new application.

More information

Need help?

Applying for a government support grant can be daunting. If you’re feeling overwhelmed, Modoras can help.

We can confirm your eligibility for assistance, prepare your funding application, or simply offer guidance and advice.

Call us on 1300 8888 803 or book an appointment with a Modoras professional. We’ll take care of you.

Need help on processing your covid-19 support grants? The Modoras team is here.

IMPORTANT INFORMATION: This blog has been prepared by Modoras Accounting (VIC) Pty Ltd ACN 145 368 850. The information and opinions contained in this blog is general information only and is not intended to represent specific personal advice (Accounting, taxation, financial, insurance or credit). No individuals’ personal circumstances have been taken into consideration for the preparation of this material. The information and opinions herein do not constitute any recommendation to purchase, sell or hold any particular financial product. Modoras Accounting (VIC) Pty. Ltd. recommends that no financial product or financial service be acquired or disposed of or financial strategy adopted without you first obtaining professional personal financial advice suitable and appropriate to your own personal needs, objectives, goals and circumstances. Information, forecasts and opinions contained in this blog can change without notice. Modoras Accounting (VIC) Pty. Ltd. does not guarantee the accuracy of the information at any particular time. Although care has been exercised in compiling the information contained within, Modoras Accounting (VIC) Pty. Ltd. does not warrant that the articles within are free from errors, inaccuracies or omissions. To the extent permissible by law, neither Modoras Accounting (VIC) Pty. Ltd. nor its employees, representatives or agents (including associated and affiliated companies) accept liability for loss or damages incurred as a result of a person acting in reliance of this publication. Liability limited by a scheme approved under Professional Standards Legislation.

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