Victorian COVID-19 related business grants – current state of play

As at 20 October 2021, there are several business grants that are available to eligible Victorian businesses.  A summary of those available are as follows:

Business Costs Assistance Program Round 4 – Construction

The Business Costs Assistance Program Round 4 – Construction provides a lump sum payment to eligible businesses operating in the construction sector that were forced to lockdown for 2 weeks between 21 September 2021 and 4 October 2021.

Payments of up to $8,400 will be available to eligible businesses that have not previously received grants under the Business Costs Assistance Program Round 2, Business Costs Assistance Program Round 2 July Extension, or the Small Business COVID Hardship Fund.

The grant amounts available are as follows:

Payroll size Grant
$0 (no employees) $2,000
Between $0 – $650,000 $2,800
Between $650,001 – $3,000,000 $5,600
Between $3,000,001 – $10,000,000 $8,400

For a business to be eligible to apply for the grant, it will need to satisfy the following conditions:

  • The business must have held an ABN and have been registered for GST as at 24 September 2021;
  • The business must operate in Victoria;
  • The business must have an annual payroll for the 2020 financial year not exceeding $10M;
  • The business must have an eligible ANZSIC code which identifies it as operating in the construction industry (click here for a list of eligible ANZSIC code sectors)
  • Prior to the announcement of the lockdown, the business must have contracted to provide services at construction sites during the period of the lockdown.
  • The business must have been unable to provide its services remotely; and
  • The business must have incurred direct costs as a result of the lockdown.

Applications for the Business Costs Assistance Program Round 4 – Construction are now open and can be applied for via this link.

Applications close on 9 November 2021.

Business Costs Assistance Program Round 5

The Business Costs Assistance Program Round 5 provides ongoing support for eligible small and medium businesses who previously registered for the Business Costs Assistance Program Round 2 or the Business Costs Assistance Program Round 2 July extension.

The Business Costs Assistance Program Round 5 consists of 4 separate tiers of payments:

  • $1,000 per week for non-employing businesses
  • $2,800 per week for businesses with an annual payroll below $650,000
  • $5,600 per week for businesses with an annual payroll between $650,000 and less than $3 million.
  • $8,400 per week for businesses with an annual payroll between $3 and $10 million.

Payments are made automatically to those businesses with eligible ANZSIC codes and cannot be separately applied for.  When Victoria reaches its 70% fully vaccinated target, only those businesses that continue to be closed or remain severely restricted will be eligible for payments.  Click here for a list of businesses with ANZSIC codes that will continue to get the weekly grants after Victoria reaches 70% fully vaccinated.

Impacted Public Events Support Program Round Two

The program provides grants of $25,000 to organisers of eligible Tier 1 or Tier 2 public events and grants of $10,000 to suppliers associated with eligible Tier 1 or Tier 2 public events.  To be eligible for the grants, the public events must have been registered under the Public Events Framework with more than 1,000 scheduled attendees and must have been scheduled to take place between 24 June 2021 and 23 September 2023.

Further details regarding eligibility for the grants can be found on the Business Victoria website.

Applications for the grant close on 26 October 2021.

Outdoor Economy Program

On 18 October 2021, the Victorian Government announced a program to assist businesses set up for street trading as Victoria is released from its lockdown.

Under the scheme, eligible businesses will be able to apply for grants of $2,000 when they can demonstrate that they have spent at least that same amount themselves to set up their outdoor street trading.

The grants provided will be in the form of vouchers.  The vouchers will be able to be used for expenses including purchasing and hiring marquees, screens and umbrellas, obtaining insurance and promoting outdoor operations.

This program is expected to open shortly.

Sustaining Creative Workers Grants

The creative worker grants provide grants of up to $5,000 per individual or up to $10,000 per collective / business.

Round 1 applications for the grant close on 26 October.  A separate Round 2 application will be able to be made by those businesses that have not applied under Round 1.  The closing date for Round 2 is 22 November 2021.

The grant will be available for successful applications that provide services in areas including visual arts/craft, literature, contemporary dance/physical performance, community creative practice, circus, cabaret, music, sound art, theatre, fashion, design, screen and digital games, multidisciplinary and experimental work.  Grant eligibility will be assessed based on the nature of the work undertaken by the creative worker and the application will need to document their intended use of the funds.

To be eligible for the grant, the applicant must not have already received grants under the Business Costs Assistance Program Round 2 or Round 2 July extension, or the Small Business COVID Hardship Fund.

Applications for the grant can be made via this link.

Licensed Hospitality Venue Fund

Licensed Hospitality businesses that previously received grants under the Licensed Hospitality Venue Fund are automatically receiving additional weekly payments throughout the month of October.

Weekly payment amounts are stepped according to the capacity of their premises: $5,000 for a capacity of up to 99 patrons or where patron capacity is not specified, $10,000 for a capacity of 100 to 499 patrons, and $20,000 for a capacity of 500 or more.

When 70% of Victorians have been fully vaccinated, payments for licensed premises in metropolitan Melbourne will be reduced by 25%, and in regional Victoria, by 50%.  Payments will cease altogether when 80% of Victorians have been fully vaccinated.

COVID Disaster Payments

COVID Disaster Payments continue to be paid to eligible individuals and sole traders who have lost hours of work due to COVID restrictions.  The current rate of payments are $450 per week if the individual has lost between 8-20 hours of work, or $750 per week if the individual lost more than 20 hours of work.

When Victoria reaches 70% fully vaccinated, workers will need to reapply for the COVID Disaster Payment each week based on the eligibility criteria.  COVID Disaster Payments will cease altogether 3 weeks after 80% of Victorians are fully vaccinated.

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

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