Circuit Breaker Support Package Announced

On 21 February 2021, the Victorian Government announced a further support package to assist those businesses impacted by the five-day “circuit breaker” lockdown (11:59pm on Friday 12 February – 11:59pm on Wednesday 17 February).

The package consists of four types of support payments:

Business Costs Assistance Program

This will consist of a one-off grant of $2,000 for those businesses that incurred costs as a result of the lockdown and whom have payroll of less than $3M.  Eligible businesses will include retail, hospitality and restaurants.

Expansion of Travel Voucher Scheme

Further vouchers will be issued to encourage Victorians to travel within Greater Melbourne and in Regional Victoria.  Under the scheme, Victorians that obtain the voucher will be eligible to receive a reimbursement of $200 if they spend at least $400 on accommodation, tours or attractions.

Victorian Accommodation Support Program

The program will support accommodation providers who had bookings cancelled due to the lockdown that occurred.  Tier 1 funding will represent $2,250 per accommodation premises experiencing 10 or fewer cancelled nights and Tier 2 funding will represent $4,500 per accommodation premises with 11 or more cancelled nights.

Licenced Hospitality Venue Fund

Those taxpayers that have already received payments under the Licenced Hospitality Venue Fund will automatically receive an additional one-off grant of $3,000.

Further details relating to the Circuit Breaker Support Package including application procedures will be released shortly and can be accessed via the Business Victoria website.

Please do not hesitate to get in touch with us via your Banks Group representative, (03) 9810 0700 or info@banksgroup.com.au if you have any further questions relating to the above.

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