Last updated Wednesday 28 July
The Prime Minister has announced further support for Victorian businesses who have overcome five lockdowns.
The package includes a new Small Business COVID Hardship Fund, a Business Continuity Fund, as well as delivering support for commercial tenants and landlords.
It will also build on the Licensed Hospitality Venue Fund 2021 and the Alpine Business Support.
It will be administered by the Victorian Government but jointly funded 50/50 with the Commonwealth Government.
At this stage limited information is available regarding how to apply for this funding. We will update this page as we know more.
Small Business COVID Hardship Fund
A new fund will be established to support small businesses who have not been eligible under existing business support funds.
Small businesses with a payroll of up to $10 million who have experienced a 70% or greater reduction in revenue will be eligible for grants of up to $5,000.
Business Continuity Fund
This new fund will provide $5,000 grants to businesses that remain impacted by capacity limits placed on businesses per restrictions.
24 eligible sectors are covered by the fund including cafes, restaurants, gyms, catering services and hairdressers.
Businesses located in the Melbourne CBD who continue to be impacted due to restrictions on the number of staff allowed in office buildings, will be eligible to receive an additional $2,000.
All recipients must have received or been eligible for the previous Business Cost Assistance Program.
Commercial Tenancy Relief Scheme and Landlord Hardship Fund
The reintroduced Commercial Tenancy Relief Scheme will provide rent relief for eligible tenants, while separate support will be provided to landlords who offer rent relief.
Landlords will be required to provide proportional rent relief in line with a business’s reduction in turnover. For example, a business with a turnover of 40% of pre-pandemic levels can only be charged 40% of its rent. Of the balance, at least half must be waived, with the remainder to be deferred.
Legislation will shortly be introduced to enact the Scheme, which will be applied from today (28 July 2021) to ensure rent relief can start immediately.
The Scheme will be available to businesses with an annual turnover of less than $50 million and have suffered a decline in turnover of at least 30% due to COVID-19.
More details on the roll out will be provided by the Victorian Government soon but you can read more from the announcement here.
COVID-19 Disaster Payment
The COVID-19 Disaster Payment will be increased for Victorian workers in future lockdowns.
The $600 disaster payment for people who have lost more than 20 hours a week will lift to $750 and the payment for people who have lost less than 20 hours of work increases from $375 to $450 a week.
People on welfare who have lost more than eight hours of work a week will get a special disaster supplement of $200 a week.
For the vast majority of microbusinesses not registered for GST, they will be eligible for the COVID-19 Disaster Payment.
Licensed Hospitality Venue Fund 2021
The Licenced Hospitality Venue Fund will receive a further boost, with grants of up to $20,000 to be made available to support licensed venues as their operations continue to be impacted by current restrictions.
These grants recognise that larger venues depend more on dine-in and have higher operating costs, so need more support than smaller operations.
Again an additional $2,000 will also be made available to the business located within Melbourne CBD.
To receive this funding, venues will need to have received or been eligible for the Licensed Hospitality Venue Fund 2021.
Alpine Business Support Program
Alpine Businesses will receive a further grants of between $5,000 and $20,000 in recognition of restricted inter and intra-state travel during the peak winter season.
The funding also includes additional support to alpine resort operators and management boards.
Funding announced at 21 July 2021
Victorian businesses and sole traders will see support for the 12 days of the current lockdown, with automatic top-ups for the lockdown extension to be made in coming days.
Businesses who didn’t apply for these support programs in the May/June lockdown, or had been ineligible to apply but are now eligible, will be welcome to apply for July lockdown support payments and will be considered outside of the automatic top-up process.
An extension to the Business Costs Assistance Program Round Two will open for applications by the end of July.
Additional support for the following areas:
Alpine hospitality, retail, accommodation and experience operators that were eligible for grants of up to $15,000 will receive automatically an extra $3,000, on top of any entitlements under the Licensed Hospitality Venue Fund or Business Costs Assistance Program.
Public events and live performance
Eligible public events and public events suppliers affected by the lockdown will receive support of up to $25,000 and $10,000 respectively through an extension of the Impacted Public Events Support Program.
A new round of the Live Performance Support programs, with funding of up to $7,000 for presenters and up to $2,000 for suppliers, has also been confirmed.
A new round of the Sporting Clubs Grants Program will provide $2,000 grants for community sport and active recreation organisations for events that have been unable to proceed or will have to be cancelled or postponed.
Details of how to apply for each of these funding rounds is yet to be released, we will update this page as information is released.
If you have any questions or would like assistance please don’t hesitate to contact our team.
AFS & Associates Chartered Accountants
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