Government Support Packages For Businesses

The Victorian Government has announced the new $534 million Business Support Package.

Below are the support programs that have been covered so far on the Business Victoria website that either allow you to apply now, or register for more information.

The Business Support Fund Extension

Businesses within Metropolitan Melbourne & the Mitchell Shire that have been affected by the new stay at home restrictions bought in on the 8th of July may eligible for a one off $5,000 grant. You can find out more about the grant, review the eligibility criteria and apply here until the current restrictions end or the fund has been exhausted.

Regional Tourism Accommodation Support Program

The Victorian Government has also announced direct financial support to eligible accommodation providers of up to $225 per booking, per night. To find out if you are eligible and to apply, visit this web page.

CBD business support fund

A $20 million Business Support Fund for businesses in Melbourne’s CBD was announced. Applications have not opened yet, however you can register your interest here.

Night-time economy support fund

Hard hit hospitality businesses may be eligible to receive support from the Victorian Government via the $30 million dedicated fund that was announced. According to the website, more details will come soon. To be kept in the loop you can register your interest here.

In addition, the government has also announced that the payroll tax deferral has been extended and expanded. According to Business Victoria on 13/7/20 “Eligible businesses with payrolls up to $10 million can defer their liabilities for the first half of the 2020/21 financial year.”

Head over to Business Victoria for the most up to date information.

The information contained herein is of a general nature only and is not intended to be relied upon nor is it a substitute for appropriate professional advice. Whilst all care has been taken in the preparation of the material, it is not guaranteed to be accurate. Individual circumstances are different and as such require specific examination. Asparq cannot accept liability for any loss or damage of any kind arising out of the use of or reliance upon all or any part of this material. Additional information may be made available upon request.

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