Victorian government offers more business support

The Victorian government has unveiled a $3 billion package in cash grants, tax relief and cashflow support to assist businesses amid COVID-19 and help them as the restrictions lift.

The package includes more than $1.1 billion in cash grants for small and medium-sized businesses that have been impacted by COVID-19 restrictions.

Eligible businesses with payrolls of up to $10 million can apply for the third round of the business support fund, which is offering grants of $10,000, $15,000 or $20,000, depending on their size.

There is a new $251 million fund for licensed hospitality businesses, offering grants of up to $30,000 for licensed pubs, clubs, hotels, bars, restaurants, and reception centres, based on their venue capacity and location.

Eligible sole traders who operate from a commercial premises or location where the sole operator is the tenant can apply for grants of up to $3,000, as part of a new $100 million fund.

There is also a new $3 million competitive grants program to support metropolitan and regional business chambers and trader groups.

In addition to the grants, there is extra funding, tools and resources to help businesses reopen after the restrictions have eased.

There is an $87.5 million outdoor eating and entertainment package to support hospitality businesses, including grants of up to $5,000 to help businesses pay for practical things that will make this plan work.

Businesses with payrolls of up to $10 million will be able to defer payroll tax for the full 2020-21 financial year.

The planned increase in the landfill levy will be deferred for six months, while liquor license fees will be waived for 2021.

For more information, visit the business.vic.gov.au website.