Finance News
Update on COVID relief for Victorians
04 Jun 2021

With the seemingly inevitable announcement that lockdowns for metropolitan Melbourne would be extended for another week, both the Victorian and Federal Governments have made announcements on relief measures to be rolled out shortly. It is hoped these measures will help assist Victorian businesses and individuals under financial distress as a result of the lockdown.

The Victorian Government has announced the extension to its Circuit Breaker Business Support Package. In effect eligible impacted businesses will now be eligible for double the original relief offered. This equates to $7,000 for licensed premises and $5,000 for other impacted businesses. Even though the grants are open from now, there is still little detail on the eligibility requirements. However expressions of interest can be lodged on this website – https://business.vic.gov.au/about-us/subscribe – which sends businesses regular newsletter updates.

The Federal Government has addressed relief for impacted individuals which they have defined as anyone who is located in an area under lockdown measures for longer than 7 days and is unable to work as a result. Impacted individuals must not be in receipt of any current government benefits such as JobSeeker, must have utilised all available leave entitlements (except for annual leave) and have liquid assets of less than $10,000.

For those eligible individuals they will receive a payment of $500 per week if they usually work more than 20 hours and $325 per week if they work less than 20 hours per week.

If you need any further information regarding these benefits, please do not hesitate to contact us.

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