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Victorian Support Package

alfcouceiro_img2
Published by:
Alf Couceiro
Published on:
February 23, 2021
Victorian Support Program February 2021

The Victorian Government recently announced another support package designed to help those businesses impacted by the Victorian 5 day “circuit breaker” lockdown. (11:59pm on Friday 12 February – 11:59pm on Wednesday 17 February).

The package announcement includes 4 payment options:

1. Business Costs Assistance Program

Consisting of a one-off grant payment of $2,000, this payment is for those businesses that incurred costs as a result of the lockdown. Eligible businesses must have payroll of less than $3 million and will include retail, hospitality and restaurants.

2. Expansion of Travel Voucher Scheme.

Released to encourage local travel within Greater Melbourne and regional Victoria, the Government has announced vouchers for Victorians who spend at least $400 on accommodation, tours or attractions. A reimbursement of $200 will apply.

3. Victorian Accommodation Support Program

Accommodation providers who had 10 or less cancelled nights due to the lockdown are reported to be eligible for Tier 1 funding of $2,250 per accommodation premises. Locations who experienced 11 or more cancelled nights, will be eligible for Tier 2 funding of $4,500 each premise.

4. Licenced Hospitality Venue Fund

Those taxpayers that have already received payments under the Licenced Hospitality Venue Fund will automatically receive an additional one-off grant of $3,000.

Supporting you through the changes

Modoras remain committed for your financial confidence, if you have questions or are not sure what action to take during uncertain times, please contact us on 1300 888 803. We are always here to serve you.

 

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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