As we continue to deal with uncertainity caused by pandemic, the Victorian government has unveiled a $534 million support package for businesses, following the announcement that parts of the state were being plunged back into COVID-19 lockdown earlier this week.
The package includes cash grants of $5000 for some 80,000 eligible businesses in metropolitan Melbourne and Mitchell Shire, which moved back into Stage 3 COVID-19 restrictions on Wednesday night.
To be eligible for the Fund, businesses must:
- Operate a business with an address located in one of the 31 metropolitan Melbourne LGAs and Mitchell Shire subject to the return to Stage 3 ‘Stay at Home’ restrictions; and
- Be a participant in the Commonwealth Government’s JobKeeper Payment scheme;
- Employ people and be registered with WorkSafe on 30 June 2020; and
- Have an annual payroll of less than $3 million in 2019-20 on an ungrouped basis; and
- Be registered for Goods and Services Tax (GST) on 30 June 2020; and
- Hold an Australian Business Number (ABN) and have held that ABN at 30 June 2020; and
- Be registered with the responsible Federal or State regulator.
Owners of businesses that do not employ people (non-employing businesses) are not eligible for funding through this Fund.
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The support package also include:
- a $30 million fund for hospitality business
- $20 million for small businesses in Melbourne’s CBD.
- A further $26 million has also been set aside for mental health support and mentoring for small business owners, including sole traders
- $40 million is earmarked for regional tourism businesses
- $10 million to defer payroll tax for FY 20/21
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