Victorian businesses are set to receive up to $20,000 in grants and further payroll tax deferrals under a new $3 billion support package.

We have summarised what we know below, and will continue to update you when more is announced.

Business Support Fund Grants:
New grants available for businesses are as follows:

• $10,000 if annual payroll is less than $650,000

• $15,000 if annual payroll is between $650,000 and $3 million

• $20,000 if annual payroll is between $3 million and $10 million.

To be eligible, businesses must:

• operate a business located within Victoria

• participate in the Commonwealth Government’s JobKeeper Payment scheme

• employ people and be registered with WorkSafe

• be registered for Goods and Services Tax (GST)

• hold an Australian Business Number (ABN)

• be registered with the responsible Federal or State regulator, such as ASIC.

HOW:
Applications on the 18th of September (Friday). Apply here.

NEED HELP?

If you would like help with your application, please read the eligibility requirements and send us an email giving us permission to apply on your behalf.


Other announcements:

• payroll tax will be deferred for businesses with payrolls up to $10 million for the full 2020-21 financial year

• grants will be available between $10,000 and $30,000 for licensed venues

• liquor license fees will be waived for 2021

• there will be waivers and deferrals of charges including the congestion levy and increases to the landfill levy

• the 50% stamp duty discount for commercial and industrial property across all of regional Victoria will be brought forward to 1 January 2021

• the Vacant Residential Land Tax will be waived for properties that are vacant in 2020

• there will be a voucher program to assist sole traders and small businesses in building their digital capability

• help for Victorian exporters to get their products to market and establish new trade channels

• ‘Click for Vic’ campaign to encourage more Victorians to support local businesses

• $3,000 grants for sole traders who are tenants or licensees in commercial premises. This includes from industries such as accommodation and tourism, some non-permitted retail, media and film production, gyms, creative studios, outdoor entertainment, private museums and galleries

• grants to small and medium businesses to help pay for tables, plastic screens, umbrellas and all of the apparatus needed for outdoor hospitality to re-configure spaces or to convert areas like rooftops and courtyards for outdoor use.