Victorian Business Support Package

On 10 July 2020, the Victorian Government announced a further $534 million business support package.

More specific details will follow but in summary:

1. Support for hospitality – $30 million support fund for hospitality businesses with particular focus on Victoria’s night-time economy. See the following link to register your interest and apply when available.

https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-support-package/night-time-economy-support-program

2. Mental health support – $26 million mental health support package for small business

3. Business mentoring – $10 million business mentoring program, pairing small business owners with experienced professionals who can help them navigate their way through the crisis.

4. Regional tourism support – $40 million fund to help regional tourism businesses to cover refunds and marketing. Eligible operators will be able to claim up to $225 per night for up to five nights for each and every room cancelled due to the return of Stage 3 restrictions, provided they refund the booking in full. See the following link to register your interest and apply when available.

https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-support-package/regional-tourism-support-program

5. Melbourne CBD businesses – $20 million fund for small businesses in Melbourne’s CBD. See the following link to register your interest and apply when available.

https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-support-package/cbd-business-support-fund

6. Additional grants – $5,000 grants to be made available for 80,000 eligible businesses in metropolitan Melbourne and the Mitchell Shire. This grant was previously made available to the 12 postcodes linked to outbreaks. It will now apply to all areas under Stage 3 restrictions. See the following link to register your interest and apply when available.

https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-support-package/business-support-fund

7. Payroll tax deferral – Businesses will also benefit from an extended and expanded payroll tax deferral. Eligible businesses with payrolls up to $10 million can defer their liabilities for the first half of the 2020/21 financial year.