Victorian Business Support Fund 3 – Action Is Required

In good news for Victorian Businesses, the Victorian Government has released its 3rd round of Business Support Grants and action needs to be taken now to apply for the available funding to Victorian businesses.Victorian Business Support Fund 3 - Action Is Required

Contrary to common press reports that many Victorian grants have been disallowed, we have processed in excess of 100 grant applications and have had a 100% success rate. This shows the importance of ensuring your grant application is completed thoroughly and with the essential requirements and reasoning to support the grant application.

There are 3 new Victorian Government grants available:

  1. Grant for Businesses in certain industries that employ staff
  2. New Grant for non-employing Sole Traders That Operate From A Commercial Premises
  3. New Grant for Licenced Hospitality Businesses

Please note that you can only receive ONE of the above grants, not multiple grants.

Let’s look at how to access these grants.

Grant For Businesses In Certain Industries That Employ Staff

A one-off  cash  grant  will  be  available  to  businesses in certain industries with  an  annual  payroll  of  up  to $10 million,  as part of the third round of the Victorian Government’s Business Support Fund.

Generally, to be eligible for this grant, applicants must:

Depending on the annual payroll size, an eligible business will receive a third-round cash grant of:

Annual Payroll Size & Grant Amounts:

Less Than $650,000 – $10,000

Between $650,000 and $3 million – $15,000

Between $3 million and $10 million – $20,000

 

How do I apply?

  1. Easy Way – Let Suntax apply for the Business Support Fund on your behalf by clicking here. The cost to prepare this application is $495 including GST, which is fully refundable if your grant application is not successful.

OR

  1. Complete the application form yourself via Business Support Fund. Please note, that you will need to confirm that your industry code listed on the Australian Business Register matches the eligible industries for this grant. In order to confirm your industry code, you will need to link your MyGov ID to the Australian Business Register and check your businesses details.

 


 

NEW Grant For Non-Employing Sole Traders That Operate From A Commercial Premises

Most sole traders will not pass the ‘not employing’ and the ‘must operate from a commercial premises’ conditions. But for those that may be eligible, applicants must:

 

How do I apply?

This grant is not currently open, but if you believe you are eligible and would like Suntax to prepare your application, please email admin@suntax.com.au with your name, business name and phone number.

 


 

NEW Grant For Licensed Hospitality Venues

Eligible hospitality businesses will receive grants of up to $30,000 based on the location of their premises and maximum patron capacity.

To be eligible for a grant from this program, applicants must:

As noted, you can only receive ONE grant in this list and not multiple grants. Therefore, it is important to note that in most cases the ‘Licenced Hospitality Venue Fund’ provides the largest grant and if you are eligible, it is recommended that you apply for the ‘Licenced Hospitality Venue Fund’ grant to ensure you receive the maximum support from the Victorian Government.

Eligible businesses will receive grant amounts as per the table below:

Victorian Business Support Fund 3 - Action Is Required

 

How do I apply?

This grant is not currently open, but if you believe you are eligible and would like Suntax to prepare your application, please email admin@suntax.com.au with your name, business name and phone number.

 


 

All applicants may be subject to audit by the Victorian Government and may be required to produce evidence used in supporting the application and evidence as to the allocation and use of the grant for a period of four years after the grant has been approved. If any information in the application is found to be false or misleading the grant will be repayable to the Victorian Government.

We understand that there is constant information coming to you in relation to COVID 19 and the business support packages. We are aware of this and are ensuring our emails contain only relevant information and calls to action to ensure your business doesn’t miss out on any Government assistance during this period.

The directors of Suntax would like to give a shout out to all of our team for their amazing support and work through our busy ‘tax time’ period to help clients through the maze of JobKeeper, Cashflow Boost and Government Grants. We are proud of them all and appreciate their drive to help our clients through this difficult time. As always, we are committed to helping you through this in any way that we can. We are still all working remotely and are available to help with any questions you may have.

Stay safe & stay masked, we are almost there!

 

The Suntax Team