The Victorian Government has recently updated the eligibility criteria in relation to the Business Support Fund. The fund provides eligible businesses with one-off grants of $10,000.
To be eligible one of the following conditions needs to be met along with the standard eligibility criteria:
- Stream One is available to small businesses that meet the standard eligibility criteria and operate in industry sectors that have been subject to closure or highly impacted by the Restricted Activity Directions External link (opens in same window) issued by the Deputy Chief Health Officer to-date. OR
- Stream Two (NEW) is available to small businesses in any other sector that meet the standard eligibility criteria and are enrolled as eligible participants in the Commonwealth Government’s JobKeeper payment scheme.
Eligible criteria that must be met:
- Employ people; and
- Have a turnover of more than $75,000; and
- Have payroll of less than $650,000; and
- Hold an Australian Business Number (ABN) and have held that ABN at 16 March 2020 (the date the State of Emergency was declared in Victoria External link (opens in same window)
over coronavirus); and
- Have been engaged in carrying out the operation of the business in the Australian State of Victoria on 16 March 2020
If you have read through the attached guidelines and identified any businesses you look after as being eligible and would like to enrol for the grant on their behalf please click here. You will need to upload a copy of the most recent lodged business activity statement (located on the business portal) and if the business has successfully applied for JobKeeper you will need the JobKeeper receipt number (if you don’t have this please contact the ATO on 13 28 61).
Please ensure if your clients are asking you to enrol on their behalf they have read through the guidelines on the Business Victoria website here. This grant is subject to audit.
Please note: Applications for the grant close on Monday 1 June 2020.
If you have any queries please don’t hesitate to contact us.