To help your business navigate through these extremely difficult times, the Government has provided some financial assistance with their recently announced ‘Business Resilience Package’. Due to the Victorian Government’s Stage 3 & Stage 4 Restrictions put in place to combat the Corona Virus, businesses have had to adapt and operate in a limited capacity or, in some instances, have had to completely close up shop.
This ‘Business Resilience Package’, offers businesses the chance to access various Grants including the Business Support Fund, The Licensed Hospitality Venue Fund and the Sole Trader Support Fund.
A brief description of each can be summarised as follows:-
Business Support Fund
With the Business Support Fund Grant, eligible businesses will receive either $10,000, $15,000 or $20,000, depending on their businesses annual payroll. In order to be an Eligible recipient of this grant, your business would need to be operating in an Industry that is listed in the attached ‘Business Support Fund – Eligible Industry Codes’. To find your business’s ANZSIC code, please refer to the original ABN Summary you received when your business applied for its ABN. If you do not have a copy of this statement, you can view your ANZSIC code by logging into your ABR Online Services Portal. To do this visit the following website:- https://www.abr.gov.au/ and on the right hand side click on ‘Update your ABN details’. Alternatively, if you are having issues, please contact us and we can source the required details on your behalf.
An additional criteria in order to be eligible for this Grant, will require your Business to be an Employer for PAYG Withholding Tax purposes.
If your business meets the above criteria, it must also satisfy the following:-
- operate a business located within Victoria; and
- participate in the Commonwealth Government’s JobKeeper Payment scheme; and
- employ people and be registered for Workcover Insurance with WorkSafe Victoria; and
- have had an annual payroll of less than $10 million in 2019-20; and
- be registered for Goods and Services Tax (GST); and
- hold an Australian Business Number (ABN); and
- be registered with the responsible Federal or State regulator.
- Applications for this Grant close on the 23rd November 2020 so if you feel you meet the above criteria and would like us to Apply for this Grant on your behalf, please contact us as soon as you can.
Licensed Hospitality Venue Fund
The Licensed Hospitality Venue Fund provides grants of up to $30,000 for licensed pubs, clubs, hotels, bars, restaurants and reception centres, based on their venue capacity and location, plus liquor license fees waived until 2021. To be eligible for a grant from this program, applicants must:-
- Operate a licensed pub, club, hotel, bar, restaurant or reception centre under a general, full club or on-premises liquor license issued by the Victorian Commission for Gambling and Liquor Regulation, and
- Have premises that serve patrons and holds a Class 2 or 3 Service Sector – Certificate of Registration under the Food Act 1984 (Vic) issued by a local council.
- A valid ABN or equivalent will need to be provided for the premises, as well as liquor license and food Certificate of Registration.
Note: businesses that are eligible for Licensed Hospitality Business Grant will not be eligible for the Business Support Fund Grant previously mentioned.
Please also note that applications here are not officially open, but if you feel your business meets the above criteria, please contact us for more information.
Sole Trader Support Fund
The Victorian Government’s Sole Trader Support $100 million Fund helps eligible non-employing businesses in sectors that continue to be affected by coronavirus (COVID-19) restrictions by offering a once-off payment of $3,000. To be eligible for a grant from this program, applicants must:
- be a non-employing business operating in Victoria
- operate from a commercial premises or location
- hold a valid ABN
- Be registered for Goods and Services Tax (GST)
- be a current participant in the Commonwealth Government’s JobKeeper payment scheme
- operate in an industry sector that has been heavily restricted or closed as a result of continued restrictions. See attached ‘Business Support Fund – Eligible Industry Codes’.
- have not received a Business Support Fund Grant.
Applications for this Grant close once the $100 million allocated to it has been exhausted so if you feel you meet the above criteria and would like us to Apply for this Grant on your behalf, please contact us as soon as you can.