Sam Mohammad
Sam Mohammad
Partner

On 21 March 2020, the Victorian (VIC) State Government announced a one-off $10,000 emergency cash grant for small businesses impacted by COVID-19.

The grant is funded from the State Government’s $500m Business Support Fund to support small businesses that employ Victorians that have been highly impacted by the COVID-19 pandemic. 

The cash grant will be available to help cover a business’ ongoing or outstanding operating costs, working in tandem with other Victorian Government and Federal Government stimulus measures.

In order to be eligible, the small business musT: small businesses

  • Employ people
  • Have an annual turnover of more than $75,000 (GST exclusive)
  • Have annual taxable wages of less than $650,000 and not be entitled to a payroll tax waiver under COVID-19 support measures introduced by the Victorian Government
  • Have an ABN and have been carrying on the operation of the business in Victoria as at 16 March 2020
  • Have been subject to closure or highly impacted by shutdown restrictions announced by the Victorian Government via its “Non-Essential Activity Directions”
  • Apply by 1 June 2020
  • Use the funds to support activities related to the operation of the business.

The current list of sectors impacted by the Non-Essential Activity Directions is available here.

Applications are now open and will be available until 1 June 2020. An application can be made at https://businessvic.secure.force.com/PublicForm?id=bsf2020#no-back-button 

 

 

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