Small Business Covid Hardship Fund Factsheet
*NEW* Small Business COVID Hardship Fund
As previously mentioned in our earlier August newsletter update, this fund of $10,000 will be provided to small to medium businesses given they meet the following requirements.
Requirements
As of 13th August, if you’ve received any of the following you are NOT ELIGIBLE for this payment
- Business Costs Assistance Program Round Two
- Business Costs Assistance Program Round Two Extension
- Licensed Hospitality Venue Fund 2021
- Licensed Hospitality Venue Fund 2021 – July Extension
- Alpine Resorts Support Program
- Victorian Events Support Package, comprising of:
- Sustainable Events Business Program
- Impacted Public Events Support Program
- Independent Cinema Support Program
- Live Performance Support Program (Presenters)
- Live Performance Support Program (Suppliers)
Additional Requirements
- Must have an ABN registered from 28th July 2021
- Must be registered for GST from 28th July 2021
- Registered with ASIC
- Registered with WorkSafe Victoria
- attest that the business is supporting its workers to access any paid leave entitlements, or that if a person can work from home, to work from home during the COVID-19 Restrictions, and supporting their casual workers, where possible.
- Demonstrate a 70% reduction in turnover for a two week period of 27th May 2021 – 10th September 2021, compared to a benchmark period in 2019
- If actively trading in 2019, comparable benchmark period of 27th May 2019 – 10th September 2019.
- If not actively trading in 2019, comparable benchmark period of 1st February 2021 to 28th July 2021.
Please ensure you have read and understood all eligibility requirements above. If your business is applicable please contact Vargiu Accountants to discuss your application.
Closing date for application Friday 10th September 2021 unless funds are exhausted prior to this date.
