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COVID August Updates

Leo Vargiu

*EXSISTING* July Top-Up Payments If you have already registered for either the Business Costs Assistance Program or Licensed Hospitality Venue Fund you should have received an additional top-up on the 21st of July of $2,800 for … Continued

*EXSISTING* July Top-Up Payments

If you have already registered for either the Business Costs Assistance Program or Licensed Hospitality Venue Fund you should have received an additional top-up on the 21st of July of

  • $2,800 for the Business Costs Assistance Program Round Two
  • $4,200 for the Licensed Hospitality Venue Fund 2021

Please note, there is no application required for this top-up and the amount should have already been paid to your nominated bank account

*EXSISTING* Commonwealth Government COVID-19 Disaster Payment

Payments for the Melbourne July 2021 Lockdown to individuals can still be applied for. A reminder if during

Period data rangeAmount if you lost less than 20 hours work that weekAmount if you lost 20 hours or more that week
16 July to 22 July 2021$375$600
23 July to 27 July 2021$375$600

July payments claims close as per the following schedule

Health order payment periodClaims openClaims close
16 to 22 July 202123 July 202112 August 2021
23 to 27 July 202125 July 202119 August 2021

The state government has also announced an increase in the payment from 2nd August, pending any future lockdowns

Amount if you lost less than 20 hours work that weekAmount if you lost 20 hours or more that week
$450$750

Application can be applied through Services Australia

https://www.servicesaustralia.gov.au/individuals/services/centrelink/covid-19-disaster-payment-victoria

*NEW* Business Continuity Fund

This is a new fund established to delivery a $5,000 grant to business that remain impacted by capacity limits placed on businesses due to public health restrictions


Those who have received or are eligible for the Business Cost Assistance Program will be eligible for this fund.

Businesses will receive a $5,000 grant, an extra $2,000 if the business is located in the CBD.

Details regarding application opening and closing dates are yet to be confirmed.

https://business.vic.gov.au/news-and-updates/2021/extra-support-for-Victorian-businesses

*NEW* Small Business COVID Hardship Fund

For small businesses who have not be eligible under existing business support funds. If the small business has experienced

  • 70% or greater reduction in revenue,
  • Payroll of up to $10 million

They will be eligible for grants of up to $5,000

Details regarding application opening and closing dates are yet to be confirmed.

https://business.vic.gov.au/news-and-updates/2021/extra-support-for-Victorian-businesses

*NEW* Alpine Business Support Program

Alpine based businesses will receive grants between $5,000 and $20,000 in recognition of restricted inter and intra-state travel during the winter peak season.

Details regarding application opening and closing dates are yet to be confirmed.

https://business.vic.gov.au/news-and-updates/2021/extra-support-for-Victorian-businesses

*NEW* Small Business Digital Adaptation Program

Rebates of $1,200 will be provided for small business to access a range of digital business tools to help build your website, improve your cash flow, start online marketing, manage jobs and projects and maintain track of stock.

Applications for this program will open soon with registration of interest able to be applied from today on the Business Victoria website.

https://business.vic.gov.au/grants-and-programs/small-business-digital-adaptation-program

*NEW* Licensed Hospitality Venue Fund 2021.

An additional $70 million boost has been added to the Licensed Hospitality Venue Fund, this will allow grants of up to $20,000 to support licensed venues as they continued to be impacted by current restrictions.

This recognises larger venues that heavily depend on dine-in and have higher operating costs and require more support than smaller businesses.

To receive this funding, venues will need to have received or been eligible for the Licensed Hospitality Venue Fund 2021.

Details regarding application opening and closing dates are yet to be confirmed.

https://business.vic.gov.au/news-and-updates/2021/extra-support-for-Victorian-businesses

*NEW* Commercial Tenancy Relief Scheme

The reintroduction of the Commercial Tenancy Relief Scheme will require landlords to provide proportional rent relief in line with a business’s reduction in turnover.

Similar to the previous implementation eligibility requirements are as follows

  • Annual turnover of less than $50 million
  • Experienced a decline in turnover of at least 30% due to coronavirus. Further reductions will be reflected in the proportionate reduction in rent.
    • E.g a 50% reduction in turnover will result in a 50% reduction in the rent.

https://business.vic.gov.au/news-and-updates/2021/extra-support-for-Victorian-businesses

*NEW* Business Costs Assistance Program Round 2 – July Extension

The Business Costs Assistance Program has been extended into July. This payment are for business which did NOT receive a payment from the following existing assistance

  • Business Costs Assistance Program Round 2
  • Licensed Hospitality Venue Fund 2021
  • Licensed Hospitality Venue Fund 2021 – July Extension

The eligibility criteria are as follows.

  1. Be located within Victoria; and
  2. Be registered as operating in an eligible industry sector identified in the List of Eligible ANZSIC classes (as defined by the ANZSIC class linked to the business’ ABN); and
  3. Have incurred direct costs as a result of the July COVID-19 Restrictions and the business cannot predominantly operate remotely; and
  4. Have an annual Victorian payroll of up to $10 million in 2019-20 on an ungrouped basis; and
  5. Be registered for Goods and Services Tax (GST) on 15 July 2021; and
  6. Hold an Australian Business Number (ABN) and have held that ABN on and from 15 July 2021; and
  7. Be registered with the responsible Federal or State regulator.

If successful eligible businesses will receive a grant of $4,800.

Application close 13th August 2021

https://business.vic.gov.au/grants-and-programs/business-costs-assistance-program-round-two-july-extension

*NEW* Licensed Hospitality Venue Fund 2021 – July Extension

The Licensed Hospitality Venue Fund has been extended into July. This payment are for business which did NOT receive a payment under the following existing assistance

  • Business Costs Assistance Program Round 2
  • Business Costs Assistance Program Round 2 – July Extension
  • Licensed Hospitality Venue Fund 2021

The eligibility criteria are as follows.

  1. operate a licensed bar, restaurant, pub, club, hotel, café or reception centre that is registered to serve food and alcohol (Premises) in Victoria on 15 July 2021
  2. hold a general or late night (general), full club, restaurant and cafe, producer’s or on-premises, or late night (on-premises) liquor licence on 15 July 2021
  3. provide a Class 2 or 3 Service Sector Certificate of Registration under the Food Act 1984 that is valid in 2020 or 2021 for serving food on the same premises
  4. be registered for goods and services tax (GST) on 15 July 2021
  5. hold an Australian Business Number (ABN) and have held that ABN on 15 July 2021
  6. be registered with the responsible Australian or Victorian regulator.

If successful eligible businesses will receive $7,200 per premises

Eligible venues will have received an application form link from Business Victoria.

Application close 13th August 2021

https://business.vic.gov.au/grants-and-programs/licensed-hospitality-venue-fund-2021-july-extension

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Leo Vargiu

Leo Vargiu

Founder and Principal
vargiu.com.au leo@vargiu.com.au

Leo has been practicing as an accountant for over 30 years. He founded Vargiu Accountants in 1991 and has remained the Principal and overseen the firm’s steady growth since then.... Read More

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