All about the third Victorian Business Support Fund
The Victorian Government's "Business Resilience Package" was announced recently.
It will provide $3 billion in cash grants, tax relief and cash flow support to Victorian businesses, and includes a third phase of the Business Support Fund grant program.
Applications for the third Victorian Business Support Fund opened on Friday 18 September 2020 and close at 11.59pm on 23 November 2020.
For our intestate friends, there are support packages available in other Australian states and territories, as well as nation-wide Coronavirus help programs. Please check your relevant state or territory government website, or our Coronavirus Assistance page for details.
Your business is eligible if you:
- Operate a business located within Victoria; and
- Participate in the JobKeeper Payment scheme; and
- Employ people and be registered with WorkSafe; and
- Have had an annual payroll of less than $10 million in 2019-20; and
- Are registered for Goods and Services Tax (GST); and
- Hold an Australian Business Number (ABN); and
- Your business operates in an industry sector that is Restricted, Heavily Restricted or Closed and for which restrictions are not easing between the First and Second Steps in the re-opening roadmaps. A list of the eligible industry sectors is attached to this email.
Businesses that have received a grant from the Licensed Hospitality Venue grant program are not eligible to receive a grant from this program.
Only one grant per ABN is permitted. If an applicant has separate ABNs for their businesses, they will need to submit a separate application for each ABN and each business must be able to satisfy each of the program eligibility criteria.
Sole traders, individuals in partnerships and individual trustees of trusts must employ people other than themselves to be eligible for a grant under this program.
Eligible businesses will receive:
- $10,000 if annual payroll is less than $650,000
- $15,000 if annual 2019-20 payroll is between $650,000 and less than $3 million
- $20,000 if annual 2019-20 payroll is between $3 million and up to $10 million.
Applicants must provide:
- Their ABN, which must be linked to the correct ANZSIC classification. If you are unsure of your ANZSIC classication click here.
- Their current business name that is registered, where required, with the relevant national or state regulator, such as the Australian Securities and Investment Commission (ASIC).
- Their WorkCover Employer Number (WEN) or, if this is yet to be issued by WorkSafe, a WorkSafe Application Reference Number (WRN).
- Their most recent JobKeeper Business Monthly Declaration Receipt ID or Enrolment ID generated from the ATO business portal.
How you can apply:
- You are able to apply for this program yourself on the Business Victoria website. We do recommend you chat to us before applying to confirm compliance details.
- Aintree Group can apply for this grant on your behalf for a fixed fee of $250 + GST. Please note, we will require your full cooperation and assistance in getting us the information we need to complete the application on your behalf. If you don't fit into the industry ANZSIC classification the fee will not apply.
Please contact us via email if you would like Aintree Group to apply for the Victorian Business Grant on your behalf.
If you have any further questions, please get in touch.
Click here to read more about the Victorian Business