Extension of Victorian COVID-19 business support

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On 30 September 2021, in a media release, the Premier of Victoria, The Hon. Daniel Andrews MP, announced that a jointly-funded package of grants from the Commonwealth and Victorian Governments will support thousands of small- and medium-sized businesses through the next six weeks at which point Victoria is expected to reach the 80% double COVID-19 vaccination target.

The key markers of reaching the 70% and 80% double COVID-19 vaccination targets are forecast around 26 October and 5 November respectively.

Business Costs Assistance Program Round Five

Around 124,000 businesses that have previously received or been approved for a Business Costs Assistance Program Round Two or July Extension grant will be eligible for automatic grants under the Business Costs Assistance Program Round Five.

The payments will range from $1,000 to $8,400 per week across October and into the first half of November. Businesses that remain closed or severely restricted over the first two weeks of November will also receive automatic payments for that period.

This summary is a resource for The Tax Institute's members. If you'd like to become a member, to access this and leading resources like it, explore membership options today.

 

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