July 16 - Business Advice

C-19 GOV STIMULUS: What You Need To Know (updated)

Friday 16/07/21: VIC Lockdown Support

Scomo and Dan have come to some sort of agreement (oh to be a fly on the wall) regarding Victorian lockdown support today. Here’s what we know so far:

  • If you were eligible for the Licensed Hospitality Venue Fund or Business Costs Assistance Program in the May/June lockdown, you’ll automatically be receiving another payment of $3000 and $2000 respectively
  • The above seems to be all that will be available to business at this point (we know that rules out a large number of our clients – we see you and we’re here for you)

On an individual note, if your hours have been effected due to the lockdown, you’re now eligible for the same payments as to New South Wales workers:

  • Payments of $600 will be made to Victorians that lose 20 hours or more of work during the period of the lockdown
  • $375 will be made to those that lose between 8-20 hours

Friday 16/07/21: NSW Lockdown Support

As NSW gets plunged into lockdown a la Melbourne, they’ve got some good news coming their way with government funding being announced for businesses that are adversely effected. Here are the key points:

Expanded business grants program:

  • The previously announced grants have been expanded to include not-for-profits and sole traders, and will now pay up to $15k
  • To be eligible, you must have annual wages of up to $10 million
  • 70%+ decline in turnover = $15,000
  • 50% or more = $10,500
  • 30% or more = $7,500
  • Applications open on July 19th. Key an eye on things here to apply and get up-to-date details when more are released

Cashflow Support:

  • According to your payroll, a minimum of $1500 per week and maximum of $10,000 per week will be paid based on 40% of your NSW payroll payments
  • If you don’t have employees or are a sole trader, you can access $1500 per week
  • To be eligible your turnover must be between $75,000 and $50 million, with a demonstrated 30% decline in turnover
  • Staff must be kept employed at the same level as they were pre-lockdown

$1500 Micro Business Grants:

  • If you aren’t eligible for the above, then you probably will be for this one
  • If you have a turnover between 30-75k and can demonstrate a 30% decline in turnover, you will receive a $1500 fortnightly payment whilst lockdown is in place

Payroll Tax Relief

  • Payroll tax deadlines have been deferred until October 7th 2021 for all businesses
  • There is a 25% payroll tax waiver for businesses between 1.2-10m that can show a 30% decline in turnover
  • For more details on this see here

Helpful Links:

Victoria Specific (5 lockdowns deserves it’s own section)

Another week, another lockdown. With the most recent ‘circuit breaker’ came five days of closed shops and a lot of red roses wasted from cancelled Valentine’s Day plans. Businesses pulled off pivots in record breaking time which we loved to see, even seeing fourth-time-pushed-back-weddings that were brought forward a day for last minute celebrations on the Friday night in our news feeds. Melbournians really have this thing down pat now.

Whilst we are certainly more match fit than we were last year, the lockdown had ramifications that many small businesses just couldn’t afford. The Victoria Government has announced a $143 million support package aimed at helping those most affected by the five day closures. There are four initiatives that include sole traders (hooray!). 

Business Costs Assistance Program

Who: This one’s supporting those who were forced to close or cease trading as a result of the lockdown. Hospitality, tourism, events and selected retailers are the main beneficiaries here. Sole traders are also eligible. Those who lost food, cancellation fees and flowers can expect to claim. Here’s a full list of eligible sectors. Businesses can have payrolls of up to $3 million.

How much: $2000

When it closes: 16th March 11:59pm

More info here. 

Licensed Hospitality Venue Fund

Who: For those who’ve already received a payment through this existing fund, you may be eligible for a second installment. Because they already have you on record, you’ll be contacted directly; no need to apply. 

How much: $3000

More info here.

Victorian Accommodation Support Program

Who: The tourism industry just cannot catch a break in our beautiful state. This one is for accommodation providers who had cancellations between Friday 12th and Wednesday 17th February due to the lockdown. There are two tiers: tier one is for those who’ve had 10 or less nights cancelled, tier two is 11 or more nights.

How much: $2250 for tier one, $4500 for tier two

When does it close: The date is undisclosed, they are now taking expressions of interest.

More info here.

Melbourne Travel Voucher Scheme

Who: If you’ve been on airbnb lately you’d know that Melbournians are still chomping at the bit to get away at the moment. Incase you needed even more incentive, the government are releasing another round of regional travel vouchers, available to any Victorian over the age of 18. Regions include rural Victoria, Yarra Ranges, Dandenong Ranges and the Mornington Peninsula. 

How much: If you spend over $400 on accommodation, tours or experiences, you’ll be able to claim $200 back. You must stay for a minimum of two nights.

When does it close: These vouchers are snapped up very quickly, so set a calendar reminder that round three opens on 30th March at 10am and cross your fingers!

More info here.

If you have any questions about this latest round of support, or want to catch up and chat about business support in general, don’t hesitate to get in touch.