Support for businesses - VIC
The Victoria Government has announced measures to support businesses impacted by COVID-19. Below is a summary of each measure.
The information contained below is current as of 17 April 2020 and is provided for general guidance only. The information contained in this document is not specific to any individual or business, and should not be relied upon. You should obtain independent professional advice to ensure that any information is relevant to your circumstances.
Business support fund grants
Small businesses with a turnover of more than $75,000, that employ staff and are subject to closure or affected by shutdown restrictions can apply for a one-off $10,000 grant, to assist with rent, utilities, wages, continuity planning and activities, financial and legal advice. Applications are open until 1 June 2020. Find out more.
Payroll tax refund and waiver
Businesses with annual wages up to $3 million will have payroll tax waived for the 2019-20 financial year, and deferment for the first three months of 2020-21 will be available. The state Revenue Office will contact eligible businesses directly to arrange reimbursements. Find out more.
Fee waivers and deferrals
- Liquor licence fee for 2020 will be waived. Businesses that have already paid will be reimbursed
- Land tax payments for 2020 for landholding below $1 million may be deferred to after 31 December 2020.
Skills training and job matching (Working for Victoria Fund)
The fund has created an online platform for workers to provide information about their job preferences, skills and experience and receive matching available employment opportunities. Employers can register their requirements for talent and connect with candidates who meet their business needs. Find out more.
Commercial tenancies relief scheme
The scheme supports the new mandatory code of conduct for commercial rentals. Find out more.
For support or to discuss your options about your business needs, you can contact your IBA relationship manager directly or register your interest. We are here to help.