Victorian Government Economic Support

HomeBLOG

Victorian Government Economic Support

As part of a $1.7 billion economic survival package, the Victorian Government has announced $500 million to establish a Business Support Fund to assist small to medium businesses most impacted by the COVID-19 outbreak.

In Summary

  • Payroll Tax Refunds - $550 million allocated to small and medium-sized enterprises with a payroll of less than $3 million as a payroll tax refund. Refunds to start next week.
  • $500 million allocated into a fund for hardship payments, small grants and tailored support which would be distributed in consultation with the Victorian Chamber of Commerce and Industry, the Australian Hotels Association, the Australian Industry Group and other industry representatives.
  • The third component of the package, worth more than $600 million, included a range of measures such as the waiving of 12,5000 venues' liquor licence fees due this month and worth a total of $30 million.

READ MORE - 


 

Related News

27 Oct

B.I.T.E Conference 2020

Here's a rare local opportunity to learn more about marketing and managing your business and keeping up to date with the latest innovations that can help run your business more efficiently. A sell out event for the past three years, B.I.T.E Conference is the premier small business event in Greater Melbourne and Frankston region.


READ MORE
18 May

HR & Employment during COVID-19

As COVID-19 struck, Australian businesses had to rapidly evolve and implement new ways of working with very little warning or preparation. Whilst many companies have successfully adjusted to their 'new normal', it's also time to consider what the future holds for employers.


READ MORE
9 May

What Home Office Expenses Are Allowed?

If you perform some of your work from your home office, you may be able to claim a deduction for the costs you incur in running your home office, even if the room is not set aside solely for work-related purposes.


READ MORE