Business Support Fund

The Victorian Government announced yesterday a third round of the Business Support Fund which aims to provide businesses that have been impacted by the restrictions in Victoria with financial support.

The amount of grants available range from $10,000 to $20,000 depending on your business’ annual payroll. 

To be eligible for a grant from this program, applicants must:

  • Operate a business located within Victoria; and
  • Participate in the Commonwealth Government’s JobKeeper Payment scheme; and
  • Employ people and be registered with WorkSafe; and
  • Have had an annual payroll of less than $10 million in 2019-20; and
  • Be registered for Goods and Services Tax (GST); and
  • Hold an Australian Business Number (ABN); and
  • Be registered with the responsible Federal or State regulator

As an eligible business, you will receive:

  • $10,000 if annual payroll is less than $650,000
  • $15,000 if annual payroll is between $650,000 and $3 million
  • $20,000 if payroll is between $3 million and $10 million

The team at Rubiix will be in contact once applications are open.

Business Survival and Adaption Package

Business Survival

  • Small and medium sized business ($822 million): The third round of the Business Support Fund will provide up to $20,000 for business with a payroll of up to $10 million
  • Licensed Hospitality Business ($251 million): Grants of up to $30,000 for licensed pubs, clubs, hotels, bars, restaurants and reception centres, based on venue capacity and location

  • Business Chambers and Trader Groups ($3 million): A competitive grants program to support metropolitan and regional business chambers and trader groups

  • Alpine businesses ($4.3 million): Grants of up to $20,000 to help alpine businesses pay a service charge to Alpine Resort Management Boards

  • Sole Trader Support Fund ($100 million): Grants of up to $3,000 to over 30,000 eligible sole traders who operate from a commercial premises or location to which the sole operator is the tenant or licensee


Business Adaptation

The package also provides additional funding, tools and resources to help businesses adapt and prepare for reopening under COVID normal settings.

  • $20 million voucher program to assist sole traders and small businesses in building their digital capability

  • $15.7 million package to help Victorian exporters get their products to market and establish new trade channels

  • $8.5 million expansion to the ‘Click for Vic’ campaign to encourage more Victorians to support local businesses


Waivers and deferrals

The Government is also providing $1.8 billion in tax and cashflow support.

  • $1.7 billion in payroll tax deferrals for the full 2020-21 financial year
  • $41 million to bring forward the 50% stamp duty discount for commercial and industrial property for all of Regional Victoria
  • $33 million to defer the planned increase in the landfill levy for six months
  • $30 million to waive 25% of the Congestion Levy this year, with the outstanding balance deferred
  • $27 million in liquor license fee waivers for 2021
  • $6 million to waive Vacant Residential Land Tax for vacancies in 2020

If you have any queries relating to the latest announcement or support for your business, please do not hesitate to contact our team members directly or phone Reception on (03) 9603 0066.


** Please note this information was current as at 14th September 2020 and is intended to be general in nature. Please ensure you contact our office to receive advice specific to your circumstances. **

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