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VIC Covid-19 Support Packages for Businesses & Individuals in 2021

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Many businesses are yet again facing the challenge of extensive lockdowns due to the Covid-19 outbreak.  

In this summary, we share the support packages available to those in Victoria. 

We have a national standard of support from the Federal Government announcement. The State Government administers the distribution of the grants.  

Furthermore, each State has their business support packages as well.  

The purpose of these packages is to protect businesses and the livelihoods of the staff who would otherwise be unemployed. 

***Beyond the media releases, the policy is frequently changing. Return to this blog to see the latest releases. August 17th update, new grants listed, including $10,000 hardship grant***

There may even be an opportunity here for you to not just survive but thrive coming out the other side.    

At Purpose With Profit, we have assisted plant-based businesses through Covid-19 last year. Our startup tools can uncover new revenue options. At the same time, our extensive network of experts can help in all business areas, including tax advisory, grants and much more.

VIC Business Support Packages

The Victorian Government is standing ahead ofthe other states by re-introducing commercial tenancy relief scheme for small business. Victoria is also leading with grants specific for venues and large performance events. However, the state Covid-19 lockdown grants are relatively small.   

 

Commercial Tenancy Relief for Victoria Businesses   

This is very much needed and hopefully adopted by other impacted regions. For all business less than $50 Million turnover and impacted by Covid-19 lockdown, where the revenue drops 30% or greater, then the landlord is guided to provide rent relief for the same percentage as the revenue drop.    

Further, from the rent reduced, 50% is waived and the other 50% is deferred.    

Example 

  • Rent is $100 usually, with 40% Revenue drop due to Covid-19.  
  • The rent is reduced by $40 
  • $20 is waived 
  • $20 is deferred into the future.  

The government has set up a fund to compensate landlords. Click here to find out more. ***Do speak to you landlord. Seek legal guidance if your land lord is not being co-operative***  

Business Costs Assistance Program    

The Business Costs Assistance Program provides $2,500 (Round I) & $4,800 (Round II) & grants for eligible employing and non-employing businesses in sectors most impacted by the circuit breaker lockdown announced on 27 May 2021. This includes businesses operating in an industry that cannot operate under the circuit breaker restrictions and which cannot work remotely.

Eligibility  

  • be located within Victoria 
  • operate in an eligible sector listed in the list of eligible ANZSIC classes for this program 
  • have incurred direct costs because of the restrictions and cannot fully operate remotely 
  • have an annual Victorian payroll of up to $10 million in 2019-20 on an ungrouped basis 
  • have been registered for Goods and Services Tax (GST) on Thursday 27 May 2021 
  • hold an Australian Business Number (ABN) and have held that ABN at Thursday 27 May 2021 
  • be registered with the responsible Federal or State regulator. 

Grant Funding Available 

Due to the on and off again nature of the lockdown conditions in Victoria, please see the following website for the grant amounts.    

Click here for information for round I, and here for July Extension round II.

Other Small Business Grants & Support Services   

All the supporting grants are listed Financial Support for Business & Workers

  • ***(August 17th update) $10,000  grant for businesses hit hard by the lockdown. Where they have not applied for any other grants AND their revenue has reduced by at least 70% for a two week period compared to 2019. Click here for more.
  • The Licensed Hospitality Venue Fund 2021 program will run for three weeks from 2 June 2021 and provide businesses holding an eligible liquor licence and food certificate with a $3,500 grant per premises.
  • Deep Cleaning Rebate for businesses who have confirmed cases of Covid-19. The costs will cover up to 80% of the costs to the maximum amount of $10,000.
  • Small Business Digital Adaptation – With Covid-19, many business are increasing their digital footprint or improving their digital processes. This grant provides $1200 rebate for the costs of adaption. For example, accounting software, legal software, e-commerce, payment gateways are all covered.
  • If you have apprentices, you may qualify for the Federal Government Job Trainer Apprentice Supplement
  • If you need help with energy bills, such a electricity, you may qualify for Energy payment support
  • You can apply for extended and expanded payroll tax deferral. Eligible businesses with payrolls up to $10 million can defer their liabilities for the full 2020/21 financial year

 

For Victorian Individuals (who were employed & impacted)   

Victorians from low-income households can now access a one-off $250payment to help with their energy bills, thanks tothe Victorian Government’s new Power Saving Bonus.

In regards to the Disaster payment, the amount you can receive willdepend on  

  • The location and the healthorder 
  • The period claiming for 
  • The hours of work you lost 

Click here to find out more

Summary

Covid-19 is continuing to be the most disruptive event since the 2nd World War. In Australia, the Federal and State governments are doing the best tos upport us through this incredibly tough period.  

You are doing well. Do remember this.  

If you can create time to work ON the business instead of IN the business, remember the Chinese proverb for crisis is opportunity

While having one shop or a few product lines is a success, with the growing demand for veganism, there maybe new channels or even whole new products yet to be commercialised. If you are curious about how to uncover these, do connect with us. 

In the 2020 Lockdown, we connected plant-based businesses in different regions to hear best practices ina safe and confidential online space. These events fostered collaborations too. 

We’ll be kick-starting this again to ensure businesses don’t just survive this lockdown but thrive on the other side. We’ll invite experts and plant-based pioneers to speak.  

If you want to find outmore, email info (at) purposewithprofit.co 

Until we meet again,  

Stay safe & keep on shining brighter, 

Bob 

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