The Victorian Government is investing $3 billion to help businesses impacted by ongoing restrictions and to prepare for COVID normal business. 

Cash grants, tax relief and cashflow support will be delivered to Victorian businesses that have been most affected by COVID restrictions. The package will help businesses survive and keep Victorians in jobs.

 

Business Survival 

• Grants of up to $30,000 for licensed pubs, clubs, hotels, bars, restaurants and reception centres, based on their venue capacity and location.
• The Third Round of the Business Support Fund will provide up to $20,000 for businesses with a payroll of up to $10 million.

Applications for the Third Round of Business Support Grants open soon.
Final eligibility criteria for a grant will be published when applications open.
We will advise you when applications open. 

 

Business Adaptation  

The package provides additional funding, tools and resources to help businesses adapt and prepare for reopening under COVID normal settings:

• Voucher programs to assist sole traders and small businesses in building their digital capability
• Packages to help Victorian exporters get their products to market and establish new trade channels
• Expansion to the ‘Click for Vic’ campaign to encourage more Victorians to support local businesses

 

Waivers and deferrals

The Government is also providing tax and cashflow support in the form of:

• Payroll tax deferrals for the full 2020-21 financial year
• Bringing forward the 50% stamp duty discount for commercial and industrial property for all of Regional Victoria
• Deferring the planned increase in the landfill levy for six months
• Waiving 25% of the Congestion Levy this year, with the outstanding balance deferred
• Liquor license fee waivers for 2021
• Waiving Vacant Residential Land Tax for vacancies in 2020

Navigating your way through the assistance packages available for your business can be complicated.

If you have any queries, please email: admin@patrickrowan.com.au or contact your Accountant directly via email and we will be in touch.

Patrick Rowan & Associates

www.patrickrowan.com.au