6 Aug 2021
The Victorian Government has announced a $400 million package, jointly funded by the Commonwealth Government, that will provide automatic payments to almost 100,000 eligible businesses in Victoria, including sole traders.
Further hardship funds will be made available to eligible businesses that do not qualify for existing programs.
The new package builds on more than $950 million in support grants paid by the Victorian Government since June.
The five key elements that make up the support package are outlined below.
Business Costs Assistance Program
Under the new State-Commonwealth business support package confirmed today, more than 90,000 businesses will be automatically paid a Business Costs Assistance Program Round Three grant of $2,800.
Licensed Hospitality Venue Fund
New payments of $5,000 to $20,000 will be made to more than 8,900 hospitality venues across Victoria that received funding support from the Licensed Hospitality Venue Fund through the May/June and July lockdowns. Payments will be automatic and graded by venue capacity.
Alpine Resorts Winter Support Program
Alpine businesses will receive between $5,000 (off-mountain) and $20,000 (employing businesses, on mountain) under an extension of the Alpine Resorts Support Program. For more information, visit Alpine Resorts Winter Support Program.
Small Business COVID Hardship Fund
An additional $54 million will be added to the Small Business COVID Hardship Fund announced last week, allowing grants of up to $8000 to be paid to small businesses that are not eligible for support under existing programs and have experienced a 70% reduction in turnover.
COVID-19 Disaster Payments
Eligible workers who lose hours due to the lockdown will be eligible for support through the Commonwealth’s COVID-19 Disaster Payment, as will businesses that do not qualify for Victorian Government support programs because they are not registered for GST.
More information about these payments will be available at Services Australia.
Rent relief for commercial tenants
In addition to the above, the Victorian Government announced businesses that have experienced a loss in turnover of more than 30% during the pandemic are now guaranteed to receive rent reductions through the Commercial Tenancy Relief Scheme, while separate support will be provided to landlords.
A reminder that face masks are mandatory indoors (not at home) and outdoors, including all workplaces, unless an exception applies. Wear your mask correctly – covering your mouth and nose.