COVID Support Package Breakdown

Certainly having a sense of Deja vu but as we are in another lockdown its time to go through what the government has on the menu in terms of support at both a state and federal level.

FEDERAL GOVERNMENT SUPPORT:

 Covid Disaster Payment:

 General rules:

·       $375 for those of you that have lost between 8 and less than 20 hours of work per week or a full day of usual work hours per week.

·       If you lost 20 hours or more of work per week, you’ll get $600 for each relevant period.

·       No liquid assets test applies to be eligible for the payments

·       You need to be over 17 years of age

·       Payments are made in arrears and will start on the 23rd July 2021

·       You will need a myGov account to apply

 More Information (https://www.servicesaustralia.gov.au/individuals/services/centrelink/covid-19-disaster-payment)

VICTORIAN GOVERNMENT SUPPORT:

Business Costs Assistance Program:  

·       If you received this payment in May and June lockdown, you will automatically receive another payment of $2,000

More information (https://business.vic.gov.au/grants-and-programs/circuit-breaker-action-business-support-package/business-costs-assistance-program)

Licensed Hospitality Venue Fund:

·       Again if you were eligible for the payment in May and June lockdown, you will automatically receive an additional payment of $3,000

More information ( https://business.vic.gov.au/grants-and-programs/business-resilience-package/licensed-hospitality-venue-fund)

Small (micro) Business (earning less than $75,000 and not registered for GST):

·       Unfortunately, doughnuts at this stage but various levels of government have indicated that they may step up to
the plate and provide some support.

NSW GOVERNMENT SUPPORT:

NSW Covid 19 Business Grant:

·       Business, Sole Trader, Not for Profit

·       One-off grant of $7 500, $10 500 or $15 000

·       Use the grant for business costs incurred from 1 June 2021

·       Applications open 19 July 2021 and close on 13 September 2021

·       For single ABN

·       Active ABN and GST registered as at 1 June 2021

·       Operating in NSW as at 1 June 2021  

·       Total annual wages of $10 M or less at 1 July 2020 •

·       Aggregated turnover between $75 000 and $50 M for year ended 30 June 2020

·       Have business costs for which there is no other government support

·       Maintain employee headcount as at 13 July 2021

Feel free to give one of our team members a call and keep a look out for any updates. Laz