Last week the Victorian government announced its latest stimulus measures. A key component is the Business Support Fund 3, which provides Victorian businesses and charities with grants ranging from $10,000 to $20,000.
Applications for this grant opened on Friday 18th September 2020 and will close at 11.59pm on 23rd November 2020.
While there are similarities to previous Business Support Grants from the Victorian state government, this time the scope is narrower.
To be eligible for a grant from this program, applicants must:
• operate a business located within Victoria; and
• be registered as operating in an industry that has an industry restriction level of Restricted, Heavily Restricted, or Closed; and
• participate in the Commonwealth Government’s JobKeeper Payment scheme; and
• employ people, and be registered with WorkSafe; and
• have had an annual payroll of less than $10 million in 2019-20; and
• be registered for Goods and Services Tax (GST) at 13th September 2020, with some concessions for Charities and some businesses; and
• hold an Australian Business Number (ABN) at 13th September 2020; and
• be registered with the responsible Federal or State regulator.
As with earlier similar grants, integrity measures apply.
Unlike earlier versions of this grant, larger employers may receive a higher grant. Only one grant per ABN is permitted. An eligible organisation will receive:
• $10,000 if its annual payroll is less than $650,000
• $15,000 if its annual payroll is between $650,000 and $3 million
• $20,000 if its payroll is between $3 million and $10 million.
This grant is specifically aimed at industries which have been unable to operate freely due to the government limiting their scope of operations, being those with a restriction level of Restricted, Heavily restricted, or Closed. The grant will apply where restrictions will not be eased between the First Step and the Second Step of Victoria’s roadmap for reopening. A list of eligible industries is available on this page (see Eligible ANZSIC classes fact sheet). As eligibility for this grant will depend on whether the industry code (the ANZSIC class code) for your organisation is listed on the government’s list, it is imperative that organisations check, and if necessary, amend their ANZSIC code on the Australian Business Register (ABR) before applying. You can access the ABR here. RDL Accountants is also able to check and, if necessary, amend your ANZSIC code on your behalf.
Once you have checked eligibility, including your ANZSIC code, you can apply for the grant here. RDL Accountants is also able to apply on your behalf. The government expects to process grants within 5 business days.
You can access further information on this page, including a link to frequently asked questions. Our office is also able to assist you. Just call us on 9878 1477, or email us at firstname.lastname@example.org.