The Victorian Government have announced a 3rd round of Business support for all eligible enterprises within Victoria (not just Metropolitan Melbourne) that are affected by the current restrictions.
This program is in addition to the first round of the Business Support Fund, which closed on 01 June 2020 and the second round of Business Support Fund that closed on 14 September 2020 that we have previously advised you about.
To be eligible for this round of Business Support funding you are required to;
- operate a business located in Victoria; and
- be a participant in the Commonwealth Government's JobKeeper Payment scheme; and
- employ people; and
- be registered with WorkSafe; and
- have a payroll of less than $10 million; and
- be registered for GST; and
- hold an ABN; and
- be registered with ASIC (for businesses), ACNC (for Charities), CAV (for incorporated associations) and in the case of sole traders ABN registration will suffice.
An eligible business with receive:
- $10,000 if its annual payroll is less then $650,000
- $15,000 if its annual payroll is between $650,000 and $3 million
- $20,000 if its payroll is between $3 million and $10 million
Grant applications open tomorrow, being Friday 18 September 2020
Once the application opens please refer to the below link to obtain further information and to apply for the grant.
The Victorian Government has also announced other grants, tax deferrals and tax waivers that could assist your business. Here is a link detailing the various schemes they have announced. If more information becomes available we will pass this information on to you.
Should you require further assistance and guidance with any of the above, please do not hesitate to contact us.