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New Government Support Programs Announced

Written by Ashfords' trusted advisors Rebecca Lim and Matt Bonney

28 July 2021: Extra support for Victorian small and medium businesses as new Government support programs are announced


With the recent easing of the fifth Victorian Lockdown, The State and Commonwealth Government have announced that they will provide new support packages to eligible Victorian small and medium businesses in order to give them the confidence to operate in post-lockdown conditions.

The new support programs include:



 

 

 


This scheme will be available for businesses with an annual turnover of less than $50 million and have suffered a decline in turnover of at least 30 per cent due to coronavirus.

Application dates for the new support programs are yet to be announced. To keep up-to-date with application open dates, including news on upcoming business support programs, please subscribe to the Business Victoria Update newsletter and get in contact with your trusted Ashfords’ Advisor.

 

Extra support for Individuals & Microbusinesses


For eligible individuals or microbusinesses (who aren’t registered for GST) who’ve lost work and income from July’s lockdown, the Commonwealth is offering a payment of $375 or $600 per week under the Commonwealth Government COVID-19 Disaster Payment. Applications for this lump sum payment are now open and can be made via Services Australia, How to Claim - COVID-19 Disaster Payment.

Treasury officials recently announced that the Covid-19 disaster payments will be tax free, this is subject to the passage of legislation. Updates will be provided if this becomes law.


Written on 2/08/2021, this information is correct at the time of publishing but may be updated as legislation changes. 

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