A support package for Victoria of $250 million is available

For those businesses that are severely impacted by the lockdowns that continue to play pivotal roles in the fight against the Covid-19 outbreaks in Victoria, there is a new available relief package, with applications opening from the 2nd June and accepted for three weeks from this date.

The package is divided into two parts: the Business Cost Assistance Program and the Licensed Hospitality Venue Fund. The latter is worth $40.7 million and is designed specifically for those businesses that hold valid liquor licenses and food certificates. In addition, a $3500 grant is provided to every premises in an attempt to maintain some stability to those businesses that are impacted the most during these necessary lockdowns.

It is widely understood that the hospitality sector takes one of the hardest hits as a result of lockdowns, and by providing this relief, there is a means to enable these businesses to be able to reopen again when possible.

The Business Cost Assistance Program offers a $2500 grant to those small businesses employing and non-employing with a payroll of less than $10 million who have been ‘severely impacted’ by the pandemic and subsequent lockdowns. In other words, businesses that are unable to operate remotely or in lockdown conditions.

With details of the eligibility criteria beyond this yet to be released and applications open for acceptance already, there is understandable widespread confusion over the matter that does need to be addressed by the Victorian government as quickly as possible. We suggest that through support from your Dillon Partners accountant, we are together able to ensure that you submit your application successfully and in time.

Both of these programs within this entire $250 million package are a welcome relief following recent events. However, it is imperative that such support remains in place for businesses that do find themselves impacted by lockdown conditions.

For future situations, we support the idea that more flexibility is placed on the criteria, allowing those businesses that are perhaps on the fringes of what would be considered a severe impact can still obtain some support from the government as they struggle to adapt to such uncertain situations.

We urge all businesses to look into the options available to them regarding government support and aid to ensure that they are receiving what they can to continue operating when and where possible.

Please contact our office on (03) 9696 1788 or email us at info@dillonpartners.com.au for more information. Our accountants can help you and your business.