The Victorian government has today unveiled a $534 million support package for businesses, following the announcement that parts of the state were being plunged back into COVID-19 lockdown earlier this week.
The package includes:
- A $30 million fund for hospitality businesses
- A $26 million mental health support package for small business
- A $40 million fund to help regional tourism businesses to cover refunds and marketing
- $20 million fund for small businesses in Melbourne’s CBD
- $5,000 grants to be made available for 80,000 eligible businesses in metropolitan Melbourne and the Mitchell Shire.
Finally, Victoria’s payroll tax deferral scheme is also being extended. Eligible businesses with payroll of up to $10 million will be able to defer their liabilities for the first half of the 2020/21 financial year.
The announcement on the $5,000 grants follows Premier Daniel Andrews’ unveiling of the Business Support Fund grants announced last week, for businesses within the 12 ‘hotspot’ postcodes that were locked down first.
The latest grants are an extension of the same scheme. As these applications should be in by 31 July, we strongly recommend clients apply sooner rather than later. More information can be found here.
Whilst we know how the grants will be deployed, it is not yet is not yet clear on how the funds for the hospitality businesses, Melbourne CBD businesses, regional tourism businesses and the mental health support will be deployed. We will let you know as soon as the information comes to light.
“We’re here with you all the way through what will be a very traumatic, very distressing, very difficult time… The obligation upon us all is to put our best efforts towards helping everybody make it through to the other side of this.” – Victorian Treasurer
Should you have any questions or need any help applying for the grant, or ensuring you receive all available assistance, please reach out to our team at Rose Partners and we will do our best to assist.
Stay safe.
The Team at Rose Partners
