News - June 2021 Edition

Important:

Clients should not act solely on the basis of the material contained in this newsletter. Items herein are general comments only and do not constitute or convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that our formal advice be sought before acting in any of the areas.

This newsletter is issued as a helpful guide to clients and for their private information. Therefore it should be regarded as confidential and not be made available to any person without our prior approval.  

Please contact us if you wish to discuss how the points raised in this edition specifically affect you.

Victorian Business Support Package-Government Circuit Breaker

On 30 May 2021, the Victorian Government announced a $250.7 million Circuit Breaker Business Support Package to help up to 90,000 Victorian businesses that have been affected by the restrictions that will run until 11:59pm on Thursday, 3 June.

On 2 June 2021, they announced a further allocation of up to $209.3 million will flow to small and medium-sized businesses, taking the total support package to $460 million.

  • The package features three initiatives for small to medium-sized businesses and sole traders. A second round of the Business Costs Assistance Program
  • A new round of the Licensed Hospitality Venue Fund
  • Targeted support for the events industry

Business Costs Assistance Program-Round 2

The Business Costs Assistance Program will offer grants of up to $5,000 (increased from $2,500) for eligible businesses directly affected by the circuit-breaker industry restrictions, including restaurants and cafes, event suppliers, accommodation providers and non-essential retailers.

  • Businesses affected by restrictions for only one week will be eligible for the $2,500 grant.
  • Businesses affected by restrictions for two weeks will be eligible for the $5,000 grant.

Applications open- Thursday 3 June 2021 and will remain open for 3 weeks.

Licensed Hospitality Venue Fund

The Licensed Hospitality Venue Fund will provide businesses holding an eligible liquor licence and food certificate with a grant of up to $7,000 (increased from $3,500) per premises.

  • Businesses affected by restrictions for only one week will be eligible for the $3,500 grant.
  • Businesses affected by restrictions for two weeks will be eligible for the $7,000 grant.

Applications open- Thursday 3 June 2021 and will remain open for 3 weeks.

Victorian Events Support Package

This package is dedicated to support operators in the events industry that have incurred losses due to the circuit breaker restrictions.

More information on this package to be available shortly.

Quick snapshot of the support packages available above:

Businesses can register their interest in the Business Costs Assistance Program at business.vic.gov.au and will be notified when applications open.