Single Touch Payroll (STP), is an Australian Government initiative to reduce employers' reporting burdens to…
Third Round of Business Support Fund Grants
Grants to support businesses through restrictions
The Victorian Government has announced a third round of the Business Support Fund to provide direct financial support to businesses impacted by restrictions in Victoria.
The ‘How we work’ roadmaps show that many sectors will remain closed, restricted or heavily restricted as metropolitan Melbourne and regional Victoria re-opens. Grants from this program will help businesses in these sectors survive the extended period of restricted trading.
According to Business Victoria formal applications for the grants will open on the 18th September 2020.
What support is available?
The amount of grants available from this program range from $10,000 to $20,000 depending on the business’ annual payroll. To be eligible for a grant from this program, applicants must:
- operate a business located within Victoria; and
- participate in the Commonwealth Government’s 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
- be registered for Goods and Services Tax (GST); and
- hold an Australian Business Number (ABN); and
- be registered with the responsible Federal or State regulator
An eligible business will receive:
- $10,000 if its annual payroll is less than $650,000
- $15,000 if its annual payroll is between $650,000 and $3 million
- $20,000 if its payroll is between $3 million and $10 million
A full list of the eligibility criteria for a grant will be published when applications open.
Please click on the link below for further information:
If you require assistance, please contact our office on (03) 9848 5933 to speak with our accounting team.