Financial support for Victorian businesses impacted by July 2021 lockdown
Following the commencement of Victoria’s fifth lockdown in July 2021, there are several support programs available to eligible businesses.
Victorian businesses impacted by COVID-19 restrictions during the current lockdown, which became effective from 11.59pm on July 15, 2021, can now seek financial assistance via one of the government’s programs.
A support fund of $282.5 million will allow 90,000 Victorian businesses and sole traders to share in up to $484.3 million in support for the 12 days of the current lockdown, with automatic top-ups for to be made in coming days.
Here is an overview of the different types of support programs offered to eligible businesses impacted by current COVID-19 restrictions in Victoria.
July 2021 Top-Up Payment
The July 2021 Top-Up Payment offers additional support to eligible small to medium businesses in sectors impacted by current restrictions in metropolitan and regional Victoria.
Eligible Licensed Hospitality Venue Fund recipients will receive $4,200, taking the total payment to $7,200, while Business Costs Assistance Program recipients will receive $2,800, increasing the total grant to $4,800. These payments will be processed automatically.
Businesses that had chosen not to apply for these support programs during the May/June lockdown, or had been ineligible to apply but are now eligible, are welcome to apply for July lockdown support payments and will be considered outside of the automatic top-up process.
The Victorian Government has provided almost $7 billion in direct economic support for businesses over the course of the pandemic, including more than $500 million through the May/June restrictions period with $461.2 million allocated for the lead Business Costs Assistance Program and Licensed Hospitality Venue Fund.
COVID-19 Disaster Payment
The Commonwealth Government has confirmed that the majority of microbusinesses not registered for GST will be eligible for the COVID-19 Disaster Payment of $600/$375 per seven-day period.
The Victorian Government will establish a concierge service to help these businesses access this support.
Alpine region business support
Hospitality, retail, accommodation, and experience operators in the Alpine region can access additional support.
Businesses that were eligible for grants of up to $15,000 will receive an extra $3,000 via a new $1.2 million fund, in addition to any entitlements under the Licensed Hospitality Venue Fund or Business Costs Assistance Program.
Impacted Public Events Support Program.
Eligible public events and public events suppliers affected by the lockdown will receive support of up to $25,000 and $10,000 respectively through an extension of the Impacted Public Events Support Program.
Live Performance Support
Sporting Clubs Grants Program
A new round of the Sporting Clubs Grants Program will provide $2,000 grants for community sport and active recreation organisations for events that have been unable to proceed or will have to be cancelled or postponed. The grant is open to regional Victoria and metropolitan Melbourne clubs.
Need business or tax advice during COVID-19 lockdowns?
If your business needs assistance with support grants or general business advisory services, the trusted team at LDB can help.
For help understanding the various business support payments, give us a call on (03) 9875 2900 or send us a message via the contact form below.