News

Coronavirus: $3 billion support package

17 September 2020

The Andrews Government has announced a new $3 billion-plus support package to further aid businesses impacted by ongoing COVID-19 restrictions. For member convenience, a summary of relevant support options is listed below:

Cash grants

  • For small and medium-sized businesses: The third round of the Business Support Fund will provide up to $20,000 for businesses with a payroll of up to $10 million
  • For sole traders: Grants of up to $3,000 to more than 30,000 eligible sole traders who operate from commercial premises or a location to which the sole operator is the tenant or licensee.


Tax relief, fee waivers and deferrals

  • Deferral of payroll tax for businesses with payrolls up to $10 million for the full 2020/21 financial year
  • Bringing forward the 50 percent stamp duty discount for a commercial and industrial property for Regional Victoria
  • Deferral of the planned increase in the landfill levy for six months
  • Waiving of 25 percent of the Congestion Levy this year, with the outstanding balance deferred
  • Waiving of the Vacant Residential Land Tax for vacancies in 2020.
     

For more information
Business Victoria
Hotline: 13 22 15
W: business.vic.gov.au

State Revenue Office
W: sro.vic.gov.au/coronavirus

Previous Article Coronavirus: Servicing permitted
Next Article Coronavirus: Fairer lease conditions for business owners

Name:
Email:
Subject:
Message:
x