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FINANCIAL ASSISTANCE

#BuyBuloke #StrongerTogether

Find details on Financial Assistance and Support.

Financial Business Support

Outdoor Eating and Entertainment Package Business Grants

The $58 million Outdoor Eating and Entertainment Package business grants help businesses adapt their operations to outdoor dining. Grants are available to licensed and unlicensed hospitality businesses, including restaurants, cafes, pubs/taverns, bars, clubs and takeaway food venues.

Eligible businesses can apply for a grant of $5,000. Funds can be used to pay for practical things like umbrellas, outdoor furniture, screens and other equipment. This will help move the indoor dining and cafe experiences Victorians love, outdoors. https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-resilience-package/outdoor-eating-and-entertainment-package

 

Licensed Hospitality Venue Fund

The $251 million Licensed Hospitality Venue Fund program supports eligible liquor licensees with hospitality venues impacted by the restrictions put in place to slow the spread of coronavirus (COVID-19).

Eligible liquor licensees include those in metropolitan Melbourne and regional Victoria operating a restaurant, hotel, cafe, pub, bar, club or reception centre that serves food and alcohol.

Grants of up to $30,000 will be available to eligible liquor licensees, based on venue location and patron capacity. Those eligible will receive an invitation to apply from Business Victoria at the email address linked to their Liquor Portal account. https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-resilience-package/licensed-hospitality-venue-fund 

 

Sole Trader Support Fund

On 14 September 2020, the Victorian Government announced the $100 million Sole Trader Support Fund to provide extra support to eligible non-employing sole trader businesses to survive the impacts of continued COVID-19 shutdown restrictions. This is for non-employing sole traders across Victoria that operate from commercial premises or locations, participate in JobKeeper and operate in specific sectors. Through the Sole Trader Support Fund, around 30,000 businesses will receive a grant of $3,000. The Sole Trader Support Fund specifically targets businesses in industry sectors that have been Restricted, Heavily restricted or Closed as a result of continued restrictions outlined in Victoria’s roadmap for reopening. https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-resilience-package/sole-trader-support-fund

https://covid19help.com.au/business-support/sole-traders/

https://treasury.gov.au/coronavirus/businesses/sole-traders

 

Job Keeper

Extension of the JobKeeper Payment - The Government is extending the JobKeeper Payment by a further six months to March 2021. Support will be targeted to businesses and not-for-profits that continue to be significantly impacted by the coronavirus.  The payment rate will be reduced and a lower payment rate will be introduced for those who work fewer hours. Other eligibility rules remain unchanged.  
https://www.business.gov.au/risk-management/emergency-management/coronavirus-information-and-support-for-business/jobkeeper-payment

Business Support Fund

The $500 million Business Support Fund will support the hardest hit sectors, including hospitality, tourism, accommodation, arts and entertainment, and retail.

https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-support-package/business-support-fund
 

Regional Tourism Accommodation Support Program

Accommodation providers across regional Victoria with an Australian Business Number (ABN) will be able to make a claim for a payment of up to $225 per night up to a maximum of $1125 per bookable accommodation offering for the period of the Stage 3 ‘Stay at Home’ restriction period, https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-support-package/regional-tourism-accommodation-support-program

Commercial Tenancy Relief Scheme

The Victorian Government has announced (15 April 2020) a commercial tenancy relief scheme to alleviate financial hardship faced by tenants and landlords as a result of coronavirus (COVID‑19).

https://www.business.vic.gov.au/disputes-disasters-and-succession-planning/coronavirus-covid-19/commercial-tenancy-relief-scheme

Payroll tax waived for eligible businesses

This measure was announced on 21 March 2020.

Businesses with annual Victorian taxable wages up to $3 million will have their payroll tax for the 2019-20 financial year waived.

Eligible businesses must continue to lodge returns but do not need to make further payments for this financial year.

The State Revenue Office will directly contact eligible businesses in relation to an emergency tax relief refund of payroll tax already paid in the financial year.

These businesses can also defer paying payroll tax for the first quarter of the 2020-21 financial year.

More information about the administration of these relief measures will be sent directly to eligible businesses.

Claim a coronavirus payroll tax refund

Frequently asked questions

Additional payments under the JobKeeper program are now exempt from payroll tax

This further measure was announced on 5 May 2020.

To qualify for the Australian Government’s JobKeeper payments, employers must pay a minimum of $1500 a fortnight to eligible employees.

Any additional payments made to bridge the gap between an employee’s wage and the $1500 a fortnight required for the JobKeeper program are now exempt from payroll tax.

Any employer who has claimed this relief is still obliged to lodge payroll tax returns with the Commissioner, keep proper records and produce such records to the Commissioner is the Commissioner requires their production.

Frequently asked questions

Extended and expanded payroll tax relief deferral

This further measure was announced on 10 July 2020.

An employer whose Victorian taxable wages for the 2019-20 financial year did not exceed $10 million has the option to:

  • defer payment of their payroll tax liability for the months of July 2020, August 2020 and September 2020 until 14 January 2021, and

  • defer payment of their payroll tax liability for the months of October 2020, November 2020 and December 2020 until 7 March 2021.

This measure applies to any member of a payroll tax group whose Victorian taxable wages for the 2019-20 financial year did not exceed $10 million - that is, membership of the group is not considered in determining whether or not the member’s Victorian taxable wages for the 2019-20 financial year exceeded that threshold.

To be eligible for this extended and expanded deferral measure, an employer must lodge:

  • their 2019-20 annual reconciliation return, and

  • their monthly payroll tax returns for the months of July 2020 through to December 2020.

Eligible businesses must continue to lodge returns but do not need to make further payments for this financial year.

These businesses can also defer paying payroll tax for the first quarter of the 2020-21 financial year until 1 January 2021. We will send you more information about this measure in July.

https://www.sro.vic.gov.au/videos/how-claim-covid-19-payroll-tax-reimbursement

 

 

Financial Counselling

Free financial counselling and recovery support for regional small businesses

The Regional Recovery Small Business Support Program provides over $4.7 million to the Rural Financial Counselling Service (RFCS) for free financial counselling to help eligible small businesses in regional areas; to understand their financial position, identify options and implement plans to improve their long-term financial viability.

 

Rural Financial Counselling Service, Victoria -  Wimmera South West - 1300 735 578,

https://www.wswrcs.com.au/services/

Rural Financial Counselling Service Victoria – North West - 1300 769 489,

http://www.sunrcs.com.au/organisation/smallbusinessfinancialcounsellor

Saying Informed

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CONTACT US

Business Support Team - Call 1300 520 520

© 2020 Buloke Shire Council.

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