Victorian Government boosts business support during extended lockdown

Victorian Government boosts business support during extended lockdown

With Victoria expected to remain under some form of lockdown until at least October, the State’s Government has boosted financial support for small and medium-sized businesses impacted by the restrictions.

The package, jointly funded by the Commonwealth and Victorian Governments, is now worth around $4.3 billion, with businesses support payments now confirmed to cover the four-week period ending on 30 September.

The vast majority of payments will be deposited automatically into businesses’ bank accounts, while a new tiered payments system for the Business Costs Assistance Program will allow for higher payments to businesses with more workers.

Business Costs Assistance Program payments will be automatically made at rates of $2,800, $5,600 and $8,400 a week over September, depending on payroll size.

Eligible cafes, restaurants and bars will continue to receive Licensed Hospitality Venue Fund payments of between $5,000 and $20,000 per week.

A major boost to the Small Business COVID Hardship Fund will increase the grant amount to $20,000 for around 35,000 businesses, and the deadline for applications will be extended.

An Alpine Support Package will help sustain resorts through the remainder of the season and September school holidays with an automatic top-up payment of between $10,000 and $40,000, depending on business location and whether they employ staff.

Federal Treasurer Josh Frydenberg said the announcement builds on $45 billion in direct economic support delivered to Victorian households and businesses since the start of the pandemic.

“The Morrison Government understands the significant impact extended lockdowns have on individuals and businesses right across Victoria,” Frydenberg said.

"We will continue to support Victorians, with our ongoing economic assistance to meet the challenges of the Delta strain.”

"Already, the Commonwealth has provided $1.3 billion in COVID-19 disaster payments to Victorians, supporting the incomes of around 500,000 individuals and in partnership with the State Government, committed more than $4 billion to small and medium sized businesses over course of this lockdown.”

Details about Victorian business support payments is available at business.vic.gov.au.

Victoria today reported 246 new locally acquired cases of COVID-19, up from 183 cases on Sunday and 190 on Saturday.

Meanwhile, New South Wales recorded 1,485 new locally acquired cases of COVID-19 yesterday and three deaths, the Australian Capital Territory reported 15 new cases, and Queensland announced one new local case who was in home quarantine while infectious.

Updated at 9.53am AEST on 6 September 2021.


This update is brought to you by Employment Hero.

Click here to go to Employment Hero’s Covid-19 Resource Hub for essential resources to help employers, managers and HR specialists navigate the ongoing pandemic. 


 

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