Finance News
Further grants for businesses announced
15 Sep 2020

The Victorian State Government has announced a further $3 billion grants that will shortly be made available to businesses impacted by COVID-19 as a result of the extended lockdowns. Although details have not yet been released and applications are not yet open, the announcements indicated:

  • A third round of the Business Support Fund with payments available of $10,000 for businesses with a payroll less than $650,000, $15,000 for businesses with a payroll of between $650,000 and $3 million and $20,000 for businesses with a payroll between $3 to $10 million. The same eligibility requirements seem like they will apply for this grant with the keys being registered as an employer and receiving JobKeeper payments.
  • Confirmation that payroll tax for the entire 2021 financial year will be deferred for businesses with payrolls under $10 million.
  • A $251 million Licenced Venue Fund with grants available up to $30,000 depending on the venue’s capacity and location for pubs, clubs, hotels, bars, restaurants and reception centres. They have also confirmed liquor licence fees will be waived for 2021.

We will provide further information as it is released, so please keep checking our website and social feeds as there are likely to be further updates including a hopeful new grant for sole traders (as most of the current grants only assist employers). If you need any assistance with your grant applications, please do not hesitate to contact us.

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