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October COVID Support Update

Corey Crowden

The announcement made on the 30th September 2021 outlined the State Governments’ business support as we reach key indicative dates of 70 and 80 per cent double dosed within the Roadmap to Deliver the National Plan. … Continued

The announcement made on the 30th September 2021 outlined the State Governments’ business support as we reach key indicative dates of 70 and 80 per cent double dosed within the Roadmap to Deliver the National Plan.

At these key markers, forecast around 26 October and 5 November respectively, dining, entertainment, retail, sport, recreation and other sectors will progressively and safely open.

Business Costs Assistance Program Round Five

Funding of up to $1.26 billion will provide for automatic payments to recipients of the Business Costs Assistance Program across October and into the first half of November. Businesses that have previously received or been approved for a Business Costs Assistance Program Round Two or July Extension grant will be eligible for these payments.

Businesses will be eligible to receive two fortnightly payments between 1-29 October on a rising scale.

Eligible non-employing businesses will receive

  • $1,000 per week, increasing to
  • $2,800 a week for an annual payroll of up to $650,000,
  • $5,600 a week for a payroll of $650,000 – $3 million and
  • $8,400 a week for a payroll of $3 million – $10 million.

Businesses that remain closed or severely restricted between 70 and 80 per cent double dose will receive an automatic payment for the period from 29 October to 13 November.

The full list of eligible ANZSIC codes for the Business Costs Assistance Program are available on the Business Victoria website via the following links.

1st October – 29th October: https://business.vic.gov.au/grants-and-programs/business-costs-assistance-program-grants-and-top-up-payments/business-costs-assistance-program-round-five-eligible-anzsic-classes-1-29-october

29th October – 13th November: https://business.vic.gov.au/grants-and-programs/business-costs-assistance-program-grants-and-top-up-payments/business-costs-assistance-program-round-five-eligible-anzsic-classes-29-october-13-november

Licensed Hospitality Venue Fund

More than 9,000 licensed hospitality businesses that have previously received grants under the Licensed Hospitality Venue Fund or July Extension programs will receive further automatic payments in October.

Weekly payment amounts are stepped according to premises capacity:

  • $5,000 for a capacity of up to 99 patrons or where patron capacity is not specified,
  • $10,000 for a capacity of 100 to 499 patrons,
  • $20,000 for a capacity of 500 or more.

Between 70 and 80 per cent double dose, payments for licensed premises in metropolitan Melbourne will be reduced by 25 per cent, and in regional Victoria by 50 per cent as the economy continue to progress to greater levels of freedom.

Small Business COVID Hardship Fund

The existing $700 million funding pool has been fully subscribed and the new allocation means 65,000 businesses will now be supported with one-off grants of $20,000.

The Fund supports businesses that have suffered significant losses due to the pandemic, including businesses legally allowed to operate but restricted in their ability to generate revenue, but have previously fallen between the cracks in terms of government support.

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