Victorian Business Support Fund

Discussion in 'Accounting & Tax' started by Mike A, 10th Jul, 2020.

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  1. Mike A

    Mike A Well-Known Member

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    UNIVERSE
    BUSINESS SUPPORT: The Victorian Government has announced a $534 million Business Support Package for Victorian businesses. This includes:

    - 80,000+ eligible businesses will get a $5000 grant to support them through renewed restrictions

    - $30 million dedicated fund for the hardest-hit hospitality businesses

    - $36 million for mental health support

    - $20 million specifically for CBD businesses (which has been 'uniquely hit' by stay at home restrictions)

    - $40 million regional tourism fund to cover the cost of refunds: Eligible operators can claim up to $225 per night for up to 5 nights for each and every room cancelled due to guests being in Stage 3 restrictions

    - Eligible businesses with payrolls up to $10 million can defer their liabilities for the first half of the 2020-21 financial year


    "We're here with you all the way through what will be a very traumatic, very distressing, very difficult time... The obligation upon us all is to put our best efforts towards helping everybody make it through to the other side of this." - Victorian Treasurer