Australia had not even started to recover from the massive monetary and wildlife losses caused by bushfires when Covid-19 pandemic hit the country. Losses to businesses dependent upon tourism have been huge, compelling federal and state governments to announce many types of grants and economic stimulus packages. This article contains details about such grants and financial assistance programs available for businesses and individuals earning their income from tourism industry.
State Government Funded Tourism Recovery Program
One of the state governments has announced a recovery program worth $14.4 million to provide financial assistance to businesses in the tourism industry that are negatively impacted by Coronavirus. There are two separate funding programs under this initiative.
- Survival Grant: Under this program totalling $10.4 million, grants ranging between $25,000 and $100,000 are being provided to tourist operators in the state that can demonstrate sufficient damage to their earnings because of Coronavirus.
- Recovery Fund: It is a $4 million fund set up by the state government to support businesses in tourism industry affected by Covid-19. Under this scheme, eligible businesses are given a onetime financial assistance of $6,500 to survive and stay afloat.
Businesses must be an active member of the tourism industry in the state to be eligible for assistance under this initiative. They must have a valid ABN for taxation purposes. As far as application process is concerned, the business must submit a plan for the utilization of money received from this fund. Survival grants will focus upon the regions in the state that have been under a severe travel ban because of COVID-19.
Coronavirus Stimulus Package from Federal Government for Tourism Industry
Australian government has set up a coronavirus relief package of AUD 1 billion to provide relief to regions and sectors severely affected by Covid-19. Under this package, tourist companies operating in Commonwealth National Parks and the Greta Barrier Reef Marine Park will be given waivers from various fees and charges levied by the government.
State Funded Support for Zoos and Aquariums
Under Covid-19 Relief and Recovery Program, federal government is also supporting exhibiting zoos and aquariums that are a big part of the tourism industry. Under this program, $94.6 million out of the total fund of $1 billion will be made available for tourism operators.
Territory Funded Tourism Support Program
One of the Australian territories has launched a tourism business support program to provide advice and financial assistance to businesses in the tourism industry. All the businesses willing to receive assistance under this program have to submit an expression of interest to relevant authorities. Upon submission, eligible candidates will receive suitable financial assistance to boost their tourism operations.
State Funded Package for Tourism Accommodation
Under this program, one of the state governments in Australia is providing financial assistance to tourist accommodation providers in the state. This help is for those businesses that have been hit hard because of cancellations requested by their guests during the pandemic. Under this support program, the concerned state government is giving away up to $225 per night to the business owner for every booking that has been cancelled by the travelers during the Coronavirus pandemic.
Above mentioned are only some of the many grants that federal and state governments are providing to support the growth of tourism industry in Australia. If you would like to know more about such grants that can help your business, speak to one of our consultants today.