About the package
The Victorian Government is investing $3 billion to help businesses impacted by ongoing restrictions and prepare for COVID Normal business.
$3 billion in cash grants, tax relief and cashflow support will be delivered to Victorian businesses that have been most affected by coronavirus (COVID-19) restrictions.
- Small and medium sized business ($822 million): The third round of the Business Support Fund will provide up to $20,000 for business with a payroll of up to $10 million:
- Licensed Hospitality Business ($251 million): Grants of up to $30,000 for licensed pubs, clubs, hotels, bars, restaurants and reception centres, based on their venue capacity and location.
- Business Chambers and Trader Groups ($3 million): A competitive grants program to support metropolitan and regional business chambers and trader groups.
- Alpine businesses ($4.3 million): Grants of up to $20,000 to help alpine businesses pay a service charge to Alpine Resort Management Boards.
The package also provides additional funding, tools and resources to help businesses adapt and prepare for reopening under COVID normal settings.
- $20 million voucher program to assist sole traders and small businesses in building their digital capability
- $15.7 million package to help Victorian exporters get their products to market and establish new trade channels.
- $8.5 million expansion to the ‘Click for Vic’ campaign to encourage more Victorians to support local businesses.
Waivers and deferrals
The Government is also providing $1.8 billion in tax and cashflow support.
- $1.7 billion in payroll tax deferrals for the full 2020-21 financial year
- $41 million to bring forward the 50% stamp duty discount for commercial and industrial property for all of Regional Victoria.
- $33 million to defer the planned increase in the landfill levy for six months
- $30 million to waive 25% of the Congestion Levy this year, with the outstanding balance deferred.
- $27 million in liquor license fee waivers for 2021
- $6 million to waive Vacant Residential Land Tax for vacancies in 2020.
Source: Business.vic.gov.au & Image: Explore Melbourne