With Metropolitan Melbourne and the Mitchell Shire returning to Stage 3 restrictions due to concerns around a further spread of the Coronavirus the Victorian Government and Business Victoria was quick to outline an extension to their Business Support Package.
Victorian Treasurer Tim Pallas announced the following additional measures to assist Victorian businesses with their return to greater
restrictions. For further details and to register your interest you can follow the links to the individual support packages:
The expanded Business
providing more than 80,000 eligible businesses with a new $5,000 grant to support them through the renewed
restrictions. This grant was previously made available to the 12 postcodes linked to outbreaks. It will now apply to all areas
under Stage 3 restrictions, see here for more details.
A $30 million dedicated fund
for Victoria’s night time economy to support the hardest hit businesses in hospitality.
$26 million in mental health support will ensure Victorians dealing with the compounding challenges of running a
small business can get the support they need as they navigate their way through the crisis.
A $10 million business mentoring program, pairing small business owners with experienced
professionals who can help them navigate their way through the crisis.
A $40 million capped fund
for regional tourism businesses to cover the costs of refunds.
A $20 million fund
to support small businesess in Melbourne’s CBD that are faced with a large and sustained shock to their trading environments.
- Businesses will also benefit from an extended and expanded payroll tax deferral. Eligible businesses with payrolls up to $10 million can defer their liabilities for the first half of the 2020/21 financial year.
At this stage not all details have been released, other than the broad headlines. We are waiting on further eligibility criteria and details of how these packages will be rolled out. We are also waiting on any further potential support funds provided by the Federal Government.
Hayes Girling will be bringing this information to you as it is made available.