$10,000 Victorian Government Grants Released
STOP PRESS: YOU MAY BE ELIGIBLE FOR A $10,000 VICTORIAN GOVERMENT GRANT FOR BUSINESSES IMPACTED BY COVID-19
As part of the Victorian Government’s $1.7 billion Economic Survival Package, they have released a new Business Support Fund.
In addition to the Federal Economic Stimulus options this could be a great support for Businesses to survive the impacts of the COVID-19 pandemic.
The funding is targeted at small businesses that have an annual turnover over $75,000 and payroll of less than $650,000.
What is the Business Support Fund?
The Business Support Fund is a one-off funding grant of $10,000 per business.
When do applications close?
Applications opened on 30 March 2020 and close 1 June 2020.
Am I eligible to receive the Grant?
Your business will be considered eligible if:
- you employ staff
- you have been subject to closure or are highly impacted by Victoria’s Non-Essential Activity Directions as found here Non- Essential Activities Listing
- have a turnover of more than $75,000
- have a payroll of less than $650,000
- hold an Australian Business Number (ABN) at 16 March 2020
- have been engaged in carrying out the operation of the business in the State of Victoria on 16 March 2020
- the business is a going concern at the time of application
If you did employ staff in 2019/2020 but had to let them go due to a result of closure or the impact of COVID-19 you may still be
eligible to apply
How can I use the funds?
The funds can be used in a number of ways including:
- Business costs including salaries, utilities & rent
- Financial, legal or other advice to support business continuity planning
- Marketing & Communication
- Other supporting activities in relation to the operation of the business
How do I prove I’m eligible for the Grant?
Businesses will be asked to supply a copy of the most recent Business Activity Statement (BAS) to prove that you have an annual turnover of more than $75,000 and payroll of less than $650,000.
Applicants must certify in writing that they meet the eligibility criteria and will be subject to audit by the Victorian Government. They will be required to provide evidence such as payroll reports to demonstrate impact if requested for a period of four years after the grant has been approved.
How do I apply?
You can apply here
As always, please contact us if you have any questions or wish to discuss any of the above matters further. As we have said before, our full team are working remotely from home and are available on our usual phone number (03 8746-7700). We are committed to helping you through this in any way that we can.
Your Suntax Team