An excess of 175,000 businesses across Victoria will benefit from a four-week $2.34 billion booster package. The package is due to run until the 30th of September as the state’s businesses continue to struggle with the ongoing lockdown. Victorian Government announces business support boost

On Saturday 4th of September, Victorian Premier Daniel Andrews announced the state’s largest business support boost to date. The support will be paid by the state government in partnership with the Commonwealth, which will flow primarily to businesses eligible for the Business Costs Assistance program, and now offers larger payments to businesses with more staff. 

Close to $1.6 billion of the total booster package will go to approximately 132,000 businesses as part of either round two of the Business Costs Assistance programs, or its July extension. Dan Andrew’s office has said that the instant payments made through the program will be made automatically. 

The program is in its fourth instalment and previously capped payments to businesses at $2,800 a week. Through September, however, payments will be made at three tiers. 

Businesses that have payrolls of under $650,000 will receive weekly payments of $2,800. Businesses that have payrolls between $650,000 and $3 million will receive $5,600 a week. Furthermore, businesses who have payrolls of anywhere between $3 million and $10 million will receive weekly payments of $8,400. 

Victorian Government Announces Business Support Boost

The Victorian Minister for Industry Support and Recovery, Martin Pakula said the three-tiered system offers recognition to the need for more targeted business support across the state. 

“It means businesses with more workers will have greater support to maintain those numbers in coming weeks as we look to a future with high levels of vaccination and greater freedoms. These are hard yards being done right now, but the rewards will be significant. In the meantime, we’ll continue to stand by Victorian businesses and their workers,” said Martin Pakula the Victorian Minister for Industry Support and Recovery.

Victoria’s September business boost will also result in substantial support flow to small businesses, whose payments have been increased from $14,000 to $20,000. 

The state’s Small Business Covid-19 Hardship Fund will obtain a $448 million overall boost and offer automatic payments to some 16,000 businesses already eligible for the scheme. Those that have already received a grant under the scheme will receive an automatic top-up of $6,000.

The funding boost will lead to the automatic payments of $5,000, $10,000 and $20,000. The amount paid to each business will be based on the organisations venue capacity and will be distributed to almost 9,300 businesses under the Licensed Hospitality Venue Fund after it received a cash boost of $289 million. 

Venues that have a venue capacity of up to 99 patrons will receive $5,000. Venues that have capacity limits between 100 and 499 patrons will receive $10,000, and venues with capacities of 500 or more will receive payments of $20,000.

Federal Treasurer Josh Frydenberg said that the Australian Government has maintained it will continue to offer it’s support to Victorian businesses.

The Morrison Government understands the significant impact extended lockdowns have on individuals and businesses right across Victoria. We will continue to support Victorians, with our ongoing economic assistance to meet the challenges of the Delta strain. Already, the Commonwealth has provided $1.3 billion in COVID-19 disaster payments to Victorians, supporting the incomes of around 500,000 individuals and in partnership with the State Government, committed more than $4 billion to small and medium sized businesses over course of this lockdown,” said Federal Treasurer Josh Frydenberg.

The Victorian Government’s Alpine Support Package will also receive a $11.2 million cash injection, as well. This will result in seeing alpine businesses squeezed by restrictions receive top-up payments of between $10,000 and $40,000. 

For off-mountain businesses, the payment will be $10,000, for on-mountain businesses with no employees, $20,000, and for on-mountain businesses with employees, $40,000.

The Victorian Government has also reminded eligible workers that they will continue to receive support under the Covid-19 Disaster Payment scheme, and so, too, will sole traders who are otherwise ineligible for anything else. The Victorian Government announces business support boost.

The payment will offer Victorians who have lost between eight and 20 hours of work a week a payment of $450 each week, and a $750 payment each week for Victorians who have lost 20 hours or more. These payments are being distributed to recipients via Services Australia.

Victorian Government Announces $1,500 Payment For Renters

The Victorian State Government has announced a new one-off payment worth $1,500 for renters who having difficulties due to the ongoing covid-19 enforced lockdown.

The $1,500 payment will be awarded to renters via their landlords, if they can prove that they have suffered a loss of income as a result of the covid-19 pandemic.

“We’re… asking landlords, as they did last year, to show a level of compassion to people who find themselves in sometimes very desperate circumstances. I think this is an important initiative that is actually going to make a significant difference to people’s lives,” said Richard Wynne the Victorian Minister for Housing.

To receive the payment, renters must have lost at least 20 percent of their income and have spent 30 percent of their income on rent.

Furthermore, there is an income limit of $62,860 for singles and $94,300 for couples.

The payment will be made directly to landlords whose renters meet the criteria.

Victorians applying for the payment must prove that the loss of income caused by the covid-19 pandemic occurred before or after Thursday 27th of May 2021. They must also have under $2,000 of savings.

Landlords will also need to provide evidence of a rent reduction agreement with the renters that came into effect before or after 27 May 2021.

This means that, landlords who give their tenants a rent reduction now in order to access the payment will not be eligible.