We previously issued a press release on the terms of the Victorian Government scheme to provide grants of $10,000 to eligible businesses with annual payroll of less than $650,000 per annum.
One of the key conditions to obtaining the Victorian Government grant as originally announced was that based on the industry the business operated within, the business had been forced to close or was directly impacted by forced closure measures announced by the Victorian Government.
On 1 May 2020, the parameters of the scheme were widened by the Victorian Government. The Government announced that the scheme will now also be available to all other businesses (i.e. irrespective of the industry they operate in) that are enrolled for JobKeeper (i.e. have experienced a 30% or greater reduction in turnover).
This means that businesses will now be able to apply for the Victorian Government grant where they:
- Employ staff;
- Hold an ABN as at 16 March 2020 and have turnover of greater than $75,000 for the 2020 financial year;
- Have annual wages of less than $650,000 in the 2020 financial year; and
- Are enrolled for JobKeeper.
The Victorian Government press release states that the registration process for claiming the $10,000 grant will be updated shortly to reflect the modifications announced (as at the date of this press release, registrations were not open yet based on the revised criteria). It also states that those businesses that have already applied for the $10,000 grant and been declined due to the industry sector their business operates in will be automatically contacted.
If you have any further questions, please do not hesitate to contact your client service contact at Banks Group.