Finance News
Expansion of Relief for Victorian Businesses
07 Sep 2021

As the Delta strain of COVID-19 continues to spread throughout Victoria and increase daily case numbers, Victorians have been forced to accept another extended lockdown period. For Victorian businesses that have been impacted by this extended closure, there has been some small, good news in the form of an extension and addition to the existing grants offered by the Victorian State Government.

The grants established by the State Government have all been topped up with further payments, so businesses who have received payments previously under these grants will automatically receive these additional payments. Here is a summary of the grants: –

  • Business Costs Assistance Grants – the previous payment for this was $2,800. The additional payments are now different depending on the size of the eligible business’ payroll. For business with payroll under $650,000, they will receive weekly payments of $2,800. Business with turnovers under $3 million will receive weekly payments of $5,600 and those with payrolls under $10 million will receive $8,400.
  • Licensed Hospitality Venue Fund – extra payments of $5,000, $10,000 or $20,000 will be made for eligible businesses of this grant with the grant size dependent on the size of the venue impacted
  • Small Business COVID-19 Hardship Fund – when originally announced, the grant for this was $10,000. This has now been increased to a total of $20,000 after initially being increased to $14,000. Again, those businesses who have received an initial payment will receive the top up payment automatically, while many businesses who are still applying for this grant will receive these higher payments.

A reminder for those not eligible for these grants that the Commonwealth COVID-19 Disaster Payments are available for those who have lost at least 8 hours of work a week. The payments are $450 per week for those who have lost between 8 to 20 hours of paid work per week and $750 for those who have lost more than 20 hours of paid work per week.

If you need further information on these grants, please do not hesitate to contact us.

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