COVID Relief For Businesses In Victoria

Victoria being a major state of Australia, plays a vital role in the development of Australian economy. But, due to the Covid-19 pandemic, many of the businesses, especially SMEs, have been suffering a lot financially due to lockdowns. In order to help such businesses, the Victorian government as well as the Federal Government have come forward to help businesses by launching various grants that can help them financially. Below mentioned are a few grants provided by the Victorian Government to its local businesses.

City Reactivation Event Grants VIC

The City Reactivation Event Grants are designed to assist event organisers in delivering COVID-19 safe events and encouraging people to return to Melbourne. The grants support events that are open to the public and provide residents and tourists with memorable, interesting, and innovative experiences.

Eligibility Criteria

  • You must have an Australian business number (ABN)
  • The event must be open to the general public and draw at least 500 persons
  • All persons, irrespective of their abilities, should be able to access the program
  • Event should occur within Melbourne City during 2021

The following sources of funding are available:

Small events, exhibitions, and activation are eligible for up to $25,000 in funding. For medium to big events with significant expenses and programming, organisers can claim from $25,001 up to $100,000. However, to avail the funds, event organisers must need to provide the evidence of other sources of revenue to conduct the program successfully.

COVID Safe Deep Cleaning Rebate VIC

This programme assists small and medium-sized businesses by covering the costs of expert decontamination cleaning services performed when a COVID-19 case has been reported at a workplace. The goal of this assistance is to decrease or eliminate COVID-19 transmission in the workplace while also limiting out-of-pocket cleaning costs for qualified employers.

A reimbursement grant of up to 80% of the cleaning costs up to $10,000 is available under this program.

Eligibility Criteria

You must meet the following requirements to be eligible:

  • Be a registered trading company
  • Having an ungrouped annual payroll of less than $3 million in 2019–20
  • Having carried out a thorough cleaning in accordance with government cleaning regulations
  • Operate in Victoria from a COVID-19-affected worksite
  • Attest to having a COVID-19 case on site, whether suspected or confirmed

Applications are now open and can be made at any time.

COVID-19 Tax Relief Measures VIC

For Victorian businesses affected by COVID-19, tax compensation is offered. The following tax relief options are available to qualified businesses under the Victorian government’s COVID-19 economic survival package:

Payroll tax relief

  • Payroll tax will be eliminated for businesses with annual taxable wages of up to $3 million in the 2019-20 fiscal year, and they can also defer paying payroll tax until the first quarter of the 2020-21 fiscal year.
  • Businesses with payrolls up to $10 million can postpone their payroll tax obligations for the 2020-21 fiscal year until the 2021-22 fiscal year.

Liquor licence fees waived

  • Fees for 2020 renewable liquor licences that have already been paid will be reimbursed
  • Fees for liquor licences in 2021 will be waived

This is for Eligible Victorian Businesses.

To learn more about such grants and assistance programs available for Victorian businesses, please speak to one of our advisers today.

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