If you have not lodged your 2021 Individual Tax Return by 30 June 2022, Services…
Financial support is available for eligible businesses affected by lockdowns and public health orders.
COVID-19 Disaster Payment
If a state public health order for COVID-19 adversely affects you, Services Australia provides a support payment.
You are eligible if:
- you can’t attend work and have lost income because of COVID-19 restrictions
- you can’t access appropriate paid leave entitlements from your employer
- you’re not receiving an income support payment, a state or territory pandemic payment, Pandemic Leave Disaster Payment or state small business payment for the same period.
The payment is:
- $750 each week if you have lost 20 hours or more of work a week, or
- $450 each week if you have lost between 8 and 20 hours of work.
This payment will not be subject to income tax.
Bank support for Australian customers
Business and home loan customers impacted by COVID-19 lockdowns across Australia are encouraged to contact their bank to see what support may be available.
Business Cost Assistance Payment
Businesses that successfully applied for the Business Costs Assistance Program Round Two (from the May/June 2021 lockdown) will automatically receive a top-up payment of $2800 per week of lockdown until 2 September. From 2 September to 30 September, eligible Melbourne and Shepparton businesses will automatically receive the equivalent of:
- $2800 a week for businesses with an annual payroll below $650,000
- $5600 a week for businesses with an annual payroll of $650,000 to $3 million
- $8400 for businesses with an annual payroll of $3 million to $10 million.
Eligible businesses in other regional areas will receive this payment for the period 2 September to 16 September only.
Businesses that are eligible for this program will also receive an additional:
- $5000 if they remain impacted by capacity limits from 28 July, including gyms, cafes, restaurants and hairdressers
- $2000 if they are in the Melbourne CBD.
Licensed Hospitality Venue Fund 2021
Businesses that successfully applied for the Licensed Hospitality Venue Fund 2021 (from the May/June 2021 lockdown) will automatically receive payments of:
- $5000 per week for venues with capacity of up to 99 patrons
- $10,000 per week for venues with capacity of 100 to 499 patrons
- $20,000 per week with capacity of 500+ patrons.
Eligible venues in the Melbourne CBD will receive an additional $2000.
Commercial tenancy relief scheme
Commercial landlords in Victoria are required to provide rent relief that matches their tenants’ fall in turnover where the tenant has:
- an annual turnover under $50 million, and
- experienced a decline in turnover (defined as GST turnover) of at least 30 per cent for three consecutive months between 1 April and 30 September 2021, compared to the same period in 2019 (or an agreed alternative).
At least half of the decline must be waived, with the remainder deferred. One form of evidence a tenant can provide their landlord to show a fall in turnover is a statement prepared by an accountant.
The Commercial Tenancy Relief Scheme applies from 28 July 2021 to 15 January 2022. A tenant can make a request for rent relief dating back to 28 July, if they submit their application to their landlord and provide the necessary evidence before 30 September 2021.
Tenants and landlords are encouraged to enter negotiations directly. The Victorian Small Business Commission (VSBC) will be available to provide mediation if parties cannot reach satisfactory agreement. Landlords will not be able to lock out or evict tenants without a determination from the VSBC.
Commercial Landlord Hardship Fund
Eligible commercial landlords that waive at least 50 per cent of the rent for their tenants between 28 July 2021 and 15 January 2022 can apply for grants of up to $6000 per tenancy. In cases of acute hardship, small landlords may be eligible for grants of up to $10,000 per tenancy. Eligible landlords must have taxable landholdings of under $3 million (excluding their primary place of residence) and use the grant to offset the waiver.
To be considered for acute hardship, landlords must have waived more than $6000 in rent between 28 July 2021 and 15 January 2022 and submit a Qualified Agents letter that confirms:
- commercial rent comprises at least 70 per cent of the landlord’s gross annual income for the 2019-20 financial year, and
- the landlord is neither an owner occupier of the tenanted property address nor a related party of the tenant.
For information on other states please click here