Updated: 1 April 2020
A one-off grant of $10,000 is available to eligible Victorian businesses through a grant application process.
This measure is designed to help Victorian businesses survive through the coronavirus pandemic and continue to employ staff where possible.
Businesses can apply for the grant if they satisfy the following criteria:
- employ staff;
- have a total payroll of less than $650,000 (i.e. the business does not pay payroll tax. If wages are over $650,000, the business may be eligible for a waiver of payroll tax for the 2019/20 year);
- have been subject to closure or is highly impacted by Victoria's Non-Essential Activity Directions issued to date (see Non-Essential Activity Directions No-2.pdf);
- hold an ABN, held the ABN at 16 March 2020, and were operating the business in Victoria on 16 March 2020; and
- have an annual turnover of more than $75,000.
To apply for the grant, businesses must submit an application online before 1 June 2020 on the Victorian State Revenue Office website. A link to the application page can be found at Business Support Fund - SRO. The application must include a copy of the most recent BAS form lodged by the business.
This stimulus measure should be applied for by all Victorian businesses that employ staff and a annual taxable wages of less than $650,000 that have been highly impacted by the Coronavirus restrictions in place.
It is expected that a successful grant applicant will use the funds to pay ongoing costs of the business, seeking professional advice to support business continuity planning or developing the business through marketing and communication activities.
More Info: https://www.sro.vic.gov.au/coronavirus
The Government is moving quickly and things are changing daily with regards to the response to COVID-19.
Should you have any queries regarding this measure or any Government measure announced in relation to COVID-19, please contact our office for more information.
If you would like to print this information, please click here for our PDF format.
The information provided in this information sheet does not constitute advice. The information is of a general nature only and does not take into account your individual situation. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you contact Brentnalls SA before making any decision to discuss your particular requirements or circumstances.