Business Costs Assistance Program Round Three (‘BCAP3’)
These payments will generally be tax-free.
Further information and Frequently Asked Questions(‘FAQs’) on BCAP3 can be found on the Business Victoria website.
Summary of Government assistance
On 6 August 2021, it was announced that eligible businesses will be automatically paid a ‘Business Costs Assistance Program’ Round Three (‘BCAP3’) grant of $2,800.
This is in addition to the Business Costs Assistance Program Round Two (‘BCAP2’) which looked to pay grants of up to $7,000 (plus two additional “Top-Up Payments” in July 2021, totalling another $4,800) to eligible small and medium businesses in sectors most affected by the May-June 2021 COVID-19 Victorian restrictions. Businesses that missed out on the BCAP2 may instead be eligible under a “BCAP2 July Extension” to receive a grant of up to $4,800.
A business eligible for the BCAP2 or BCAP2 July Extension should automatically receive the BCAP3 by mid-August 2021.
A New Business Continuity Fund
It is assumed that the Federal Government will declare thesegrants to be tax-free.
Further information and FAQs can be found on the Business Victoria website.
Summary of Government assistance
On 28 July 2021, it was announced that a new $156 million ‘Business Continuity Fund’ will be established to deliver $5000 grants to up to around 30,000 businesses impacted by capacity limits placed on businesses by necessary public health restrictions.
Recognising businesses located in the CBD will continue to be impacted due to restrictions on the number of staff allowed in office buildings, they will be eligible to receive an additional $2000 CBD grant.
Businesses eligible for either the BCAP2 or BCAP2 July Extension will be contacted from mid-August 2021 and this payment will be processed automatically.
Small Business COVID Hardship Fund
It is assumed that the Federal Government will declare thesegrants to be tax-free.
More information will be provided on the Business Victoria website soon.
Summary of Government assistance
On 28 July 2021, it was announced that a new fund would be set up to pay grants of up to $5,000* to small businesses that:
- are not eligible for support under existing programs;
- have experienced at least a 70% reduction in turnover;
and - have a payroll of up to $10 million.
*On 6 August 2021, is was announced that additional funding would be added to the Small Business COVID Hardship Fund allowing grants of up to $8,000 to be paid.
Licensed Hospitality Venue Fund
These payments will generally be tax-free.
More information is available at Business Victoria here in relation to the existing fund, with updates expected soon.
Summary of Government assistance
On 28 July 2021, it was announced that automatic payments of up to $20,000 will be made to Victorian hospitality venues that received funding from the ‘Licensed Hospitality Venue Fund’ through the May/June lockdowns.
An additional $2,000 grant will also be made available to the business if it is located within the CBD.
On 6 August 2021, it was announced that new automatic payments of $5,000 to $20,000 will be made to hospitality venues that received funding support from the Licenced Hospitality Venue Fund through the May/June and July Lockdowns.
Alpine Business Support Fund
These payments will generally be tax-free.
More information is at Business Victoria
Summary of Government assistance
On 28 July 2021, it was announced alpine businesses can receive between $5,000 (off-mountain) and $20,000 (employing businesses, on mountain) in recognition of restricted inter and intra-state travel during the peak winter season.
The fund also includes $5 million support to alpine resort operators and management boards.
On 6 August 2021, it was announced that Alpine businesses will receive between $5,000 (off-mountain) and $20,000 (employing businesses, on mountain) under a $10.6 million extension of the Alpine Business Support Program.
Commercial tenancy relief for Victorian businesses
More information can be found at the Victorian Small Business Commission here Tenants and landlords can contact the Victorian Small Business Commission on 13 87 22 or visit vsbc.vic.gov.au
Summary of Government assistance
On 28 July, it was announced the Victorian Government has also reintroduced the Commercial Tenancy Relief scheme to ease pressure by providing rent relief for eligible tenants.
Separate support is being given to landlords who provide rent relief (via the $80 million Landlord Hardship fund).
Broadly this makes it a requirement for commercial landlords to provide rent relief that matches their tenant’s fall in turnover (where the tenant is otherwise eligible for the support).
This will generally be available for businesses with an annual turnover under $50 million that has experienced a fall in turnover of at least 30% due to the coronavirus.
Victorian events support package
More information on the closed program is at Business Victoria here with updated information on the extended /new rounds expected soon.
Summary of Government assistance
On 21 July 2021, it was announced that new rounds /extensions of the Impacted Public Events Support Program and Live Performance Support programs be provided.
This package is designed to support event organisers, hosts and suppliers as they manage the ongoing impacts of the COVID-19 pandemic through grants of up to $2,000 to $25,000.
This support extends the previous grants available in five support areas, which had closed in July 2021. Business Victoria indicates further rounds under the announced support measures will open soon.
Microbusiness concierge
New sole trader or micro business concierge service Contact the Victorian microbusiness concierge on 13 22 15 or see more information at Business Victoria.
Summary of Government assistance
Sole traders or microbusinesses seeking information or advice about COVID-19 business support in Victoria, can now call a dedicated concierge service to understand what support is available to them.
This concierge service is relevant for individuals who work for themselves, or have 1 to 2 employees and an annual turnover of less than $75,000, and are not eligible for Victorian Government COVID-19 business support grants.
