Victorian Government Economic Support

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

READ MORE

8 Sep

Booking the Band? You May Have Just Hired an Employee

Hiring entertainers, promotional staff or event contractors for your Christmas function could create superannuation obligations you didn't expect.

READ MORE READ MORE

READ MORE

8 Sep

Whose House Is It Anyway?

Helping a family member buy a property may seem straightforward, but the way ownership is structured today could have significant tax consequences years down the track.

READ MORE READ MORE

READ MORE

8 Sep

Working From Home? It Could Affect More Than Your Tax Deductions

Working from home could have tax implications long after you've stopped claiming deductions. Here's what every business owner should know.

READ MORE READ MORE