Finance News
New Victorian Business relief announced
01 Jun 2021

With Victorians going back into lockdown once again, businesses are bracing for economic impact. Without the Federal rent relief or JobKeeper schemes to fall back on, many are already counting the cost of another lockdown which we hope will only last the initially prescribed 7 days but could easily extend longer. 

With the Federal Government offering no assistance, it has been left to the Victorian Government to provide the necessary support to small businesses. Although the finer details on eligibility of this scheme have yet to be released, like the last relief provided, it appears this measure will again only try to target those businesses directly impact by the lockdown. That is, those businesses who are unable to operate under the lockdown or work remotely. 

Eligible licensed premises in the hospitality industry will receive a grant of $3,500. A $2,500 grant is also available for small businesses with a turnover less than $10 million (this appears to include both employing and non-employing businesses) that operate in the most operating industries. Although the details are yet to be announced, it is expected again this will be linked to certain industries by ABN industry code. 

Applications open on 2 June and will only be available for 3 weeks, so we recommend businesses get on the front foot and apply as soon as possible. If you have any queries on this grant, please do not hesitate to contact us. 

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