Business Support Fund Grants

The Victorian Government has announced a third round of the Business Support Fund to provide direct financial support to businesses impacted by restrictions in Victoria.

The amount of grants available from this program range from $10,000 to $20,000 depending on the 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.

An eligible business will receive:

· $10,000 if its annual payroll is less than $650,000

· $15,000 if its annual payroll is between $650,000 and $3 million

· $20,000 if its payroll is between $3 million and $10 million.

Grant applications open on Friday 18 September 2020 and we recommend eligible business submit their application as soon as possible. If you need assistance determining the eligibility for the grant, please feel free to contact RCB Advisors’ team member.

Source: Business Victoria

https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-resilience-package/business-support-fund-3