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June 04, 2021

Victoria’s COVID-19 restrictions extended, more support for businesses

Victoria's COVID-19 Restriction Extended, Doubles Support to Businesses

The Victorian Government has announced $209.3 million of additional funding for small and medium businesses and sole traders affected by the state’s latest COVID-19 restrictions.

It follows the government’s announcement of a $250 million ‘Circuit Breaker Business Support Package’ last weekend, bringing the total amount of relief funding to nearly $460 million.

In a statement, the Victorian Premier Daniel Andrews said:

Up to 90,000 businesses will benefit from the original support. About 70,000 of these businesses located in metropolitan Melbourne will be affected by the extension of restrictions beyond Thursday 3 June and will be eligible for the new support.

The restrictions began on May 27 and were meant to last a week, however, the Melbourne lockdown has been extended by another week as the state battles to contain the latest outbreak.

With safety nets such as JobKeeper no longer available, the funding will help businesses doing their part to keep Victorians safe.

Read more about Victoria’s latest COVID-19 restrictions

Register your interest

You can ask to be kept updated on the support package by signing up for the Business Victoria Update newsletter.

The support package comprises three elements:

Business Costs Assistance Program (second round)

Who can apply: Eligible employing and non-employing businesses in sectors most impacted (e.g. restaurants and cafes, event suppliers, accommodation providers, non-essential retailers). These include businesses in an industry that cannot operate under the restrictions and cannot operate remotely.

Amount: $2,500 (regional Victoria) or $5,000 (metropolitan Melbourne) one-off grants.

Applications open: Thursday 3 June to Thursday 24 June.


Licensed Hospitality Venue Fund

Who can apply: Businesses holding an eligible liquor license and food certificate. (Business Victoria will email businesses a link to the application form.)

Amount: $3,500 (regional Victoria) or $7,000 (metropolitan Melbourne) one-off grants per premises.

Applications open: Thursday 3 June to Thursday 24 June.

Victorian Events Support Package

Who can apply: Operators in the events industry who have incurred losses due to the restrictions.

Amount: TBC.

Applications open: TBC.

More information on this package will be available shortly on Business Victoria’s Circuit Breaker Business Support Package web page.

Tax time is just around the corner. Need some help with your tax planning before June 30? Your Modoras team is here to support you. Click here to book an appointment with a Modoras Accountant or you may call us at 1300 888 803.

Hear our Accounting Directors as they share their insights on how you can maximise your result this tax time. Taking action before 30 June can open up more opportunities for business growth, increased revenue and enhanced profit margins.

Tax Planning for Businesses Webinar Recorded Live

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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