Financial Assistance (Round 3)
The Victorian Government has recently announced further financial assistance to businesses in regional Victoria and metropolitan Melbourne.
The financial grants available include the following:
1. A third round of financial grants from $10,000 to $20,000 will be available for businesses with an annual payroll of less than $10 million. To be eligible for these grants, business must:
An eligible business will receive:
The application process has not yet been released. However the application process will be available on the following link https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-survival-and-adaptation-package/business-support-fund-3
2. Licensed Hospitality Business – Grants of up to $30,000 will be available for licensed pubs, clubs, hotels, bars, restaurants, and reception centres based on the location and capacity size.
3. Alpine businesses - Grants of up to $20,000 will be available to assist these businesses cover their resort fees.
Other financial assistance has been made available as follows:
1. Payroll tax for businesses with payrolls up to $10 million will now be deferred for the full 2020-21 financial year.
2. There will be waivers and deferrals available for various charges including liquor licence fee and congestion levy. The Vacant Residential Land Tax will be waived for properties that are vacant in 2020.
3. The 50% stamp duty discount for commercial and industrial property in regional Victoria will be brought forward to 1 January 2021.
4. A voucher program will be made available to sole traders and small business in developing their digital capability.
5. Financial assistance will be provided to Victorian Exporters to assist in getting their products to market and establish new trade channels.
****HOT OFF THE PRESS****
Today, the Victorian Government announced grants of up to $3,000 to be made available to sole traders. Once more information is made available, we will provide you with the details.