Victorian Business Costs Assistance Program Updates

Set out below are the different levels of support available under the Victorian Business Costs assistance program.

Round 2 – top up payment of $2,500 announced 2 June

• For businesses in metropolitan Melbourne affected by the extension of the restrictions from 4 June 2021 to 9 June 2021.
• For businesses in regional Victoria unable to open due to ongoing restrictions.
• Metropolitan and regional businesses who had restrictions eased from Friday 4 June 2021 are not eligible.
• Available to recipients of Business Costs Assistance Program Round Two only.

Round 2 Top-up payment of $2,000 announced 9 June 2021:

• For businesses in metropolitan Melbourne that were not permitted to open due to extended restrictions announced on 9 June 2021.
• Available to recipients of the Business Costs Assistance Program Round Two only.

Round 2 July Extension Top-up payment of $2,000 announced 16 July 2021:

• For businesses in metropolitan Melbourne and regional Victoria impacted by restrictions from 16 July to 20 July 2021.
• Available to recipients of the Business Costs Assistance Program Round Two only.

Round 2 July Extension Top-up payment of $2800 announced 21 July 2021:

• For businesses in metropolitan Melbourne and regional Victoria impacted by restrictions from 21 July to 28 July 2021.
• Available to recipients of Round Two only.
  

Round 3 Top-up payment of $2,800 announced 6 August 2021:

• For businesses in metropolitan Melbourne and regional Victoria impacted by restrictions from 5 August to 12 August 2021.
• Available to recipients of the Business Costs Assistance Program Round Two and Round Two July Extension.

Round 3 Top-up payment of $5,600 announced 19 August 2021:

• For businesses in metropolitan Melbourne impacted by restrictions from 20 August to 2 September 2021.
• Available to recipients of the Business Costs Assistance Program Round Two and and Round Two July Extension.

Round 3 Top-up payment of $5,600 announced 22 August 2021:

• For businesses in regional Victoria impacted by restrictions from 21 August to 2 September 2021.
• Available to recipients of the Business Costs Assistance Program Round Two and Round Two July Extension.

Round 4 Top-up payment of $2800, $5600 or $8400 per week $5,600 announced 4 September:

• For businesses in metropolitan Melbourne and regional Victoria impacted by restrictions from 4 September to 30 September 2021.
• Available to recipients of the Business Costs Assistance Program Round Two and Round Two July Extension.
• Payments will be tiered based upon annual payroll size:

• $2,800 per week for businesses with no payroll or an annual payroll below $650,000.
• $5,600 per week for businesses with an annual payroll between $650,000 and less than $3 million.
• $8,400 per week for businesses with an annual payroll between $3 and $10 million.

• Eligible recipients will be paid on a fortnightly basis.

Businesses will remain eligible while they are unable to operate due to public health restrictions.

Round 4 Construction

Business Costs Assistance Program Round Four – Construction provides one-off payments to eligible employing and non-employing businesses in the construction sector that operate in the following local government areas:

• Metropolitan Melbourne
• The City of Greater Geelong
• Mitchell Shire
• Surf Coast Shire

Business must have incurred direct costs because of the health restrictions in place between 21 September – 4 October.

One-off grants of $2,000 for eligible non-employing construction industry businesses, and one-off grants of $2,800, $5,600 or $8,400 for eligible employing construction industry businesses, based on payroll size.

Applications for this close 9 November 2021  Click here to learn more

Round 5 Top-up payment of $2800, $5600 or $8400 per week announced 30 September:

• For businesses in metropolitan Melbourne and regional Victoria impacted by restrictions from 1 to 28 October 2021 (28 October being when Victoria is expected to achieve 70% double dose vaccination rates).
• Available to recipients of the Business Costs Assistance Program Round Two and the Business Costs Assistance Program Round Two July Extension.
• 2 fortnightly payments tiered based upon annual payroll size:

• $2,000 per fortnight for non-employing businesses.
• $5,600 per fortnight for businesses with no payroll or an annual payroll below $650,000.
• $11,200 per fortnight for businesses with an annual payroll between $650,000 and less than $3 million.
• $16,800 per fortnight for businesses with an annual payroll between $3 and $10 million.

Businesses will remain eligible while they are unable to operate due to public health restrictions.

Businesses that remain closed or severely restricted between 70 and 80% double dose will receive an automatic payment for the period from 29 October to 13 November.

More Info

For more information on the Victorian Business Costs assistance program, click here

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

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