Victorian Business Costs Assistance Program Round Two – July Extension

Applications closed on 13 August 2021 for the Victorian Business Costs Assistance Program Round Two – July Extension. 

Read on to learn more about this.

The Victorian Business Costs Assistance Program Round Two – July Extension itself

The Victorian Business Costs Assistance Program Round Two – July Extension is a once off payment of $4,800 designed to cover expenses incurred by eligible businesses during the Victoria July Covid restrictions that started on 16 July.

Businesses that have applied and been approved for funding under the Business Costs Assistance Program Round Two (May-June 2021) will receive automatic top-up payments of $4,800 and do not need to apply for this program.

The Program will be open for applications until program funds are exhausted or 11.59pm 13 August 2021, whichever is earlier.

Eligibility Rules for the Business Costs Assistance Program Round Two – July Extension

In order to be eligible for the Victorian Business Costs Assistance Program Round Two – July Extension your business or not for profit organisation must:

• have an Australian Business Number (ABN), registered for GST (in effect have a turnover of above $75,000) and be operating in Victoria as at 15 July 2021;
• be registered as operating in an eligible industry sector identified in the List of Eligible ANZSIC classes (see below). Note if your business’s ANZSIC code as recorded on the Australian Business Register (ABR) is not on the eligible list, your business is not eligible for this support program.  You may need to check with the ABR and correct if applicable;
• have incurred direct costs as a result of the July COVID Restrictions and the business cannot predominantly operate remotely;
• have total annual Victorian wages of $10 million or less as at 1 July 2020;
• for employing businesses be registered with WorkSafe Victoria; and declare that the business is supporting its workers to access any paid leave entitlements, or that if a person can work from home, to work from home during the July COVID-19 Restrictions, and supporting their casual workers, where possible;
• you must intend to remain trading at the end of the COVID-19 restrictions.

You are not eligible if you have applied for any round of the Licensed Hospitality Venue Fund.

Note – You can only claim one grant per ABN and Applications may be subject to audit by the Victorian Government.

Businesses that are continuing to operate or can work from home during restrictions are not eligible to apply for the Victorian Business Costs Assistance Program Round Two – July Extension. For example:

• essential retail (i.e., supermarkets, food retailers, pharmacies)
• manufacturing
• construction
• mining
• agriculture, forestry and fishing
• professional services (with some exceptions, such as wedding and events photographers).

What can the funding be used for?

The funds under this support program must be used to assist the business, for example on:

• Meeting business costs, including utilities, wages or rent;
• Seeking financial, legal or other advice to support business continuity planning;
• Developing the business through marketing and communications activities; or
• Any other supporting activities related to the operation of the business.

The highly impacted industries list

More information on the Business Costs Assistance Program Round Two – July Extension

Note applications closed on 3 August 2021.

Click here to get more information.

If you want a confidential discussion on your business situation, or help with this grant contact me below

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At the end of this session, you will have multiple ideas on how your business can survive and thrive in these uncertain times.

Simply fill in the contact form below or email me at wayne@aRealCFO.com.au or call me on 0412 227 052 to organise one of these obligation free sessions.

To get help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times, simply use the contact form on the left to email Wayne or call him on 0412 227 052.

Let Wayne Wanders, a fully qualified and experienced CFO, help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times.

Wayne Wanders, A Real CFO

wayne@aRealCFO.com.au