With the never-ending Covid-19 pandemic restrictions and announcements from the government about support for your business, it can get a bit confusing (and frustrating!) But never fear, here at Bellarine Accounting, we are here to help! We have put together a brief overview of the grants that the Victorian and Federal Government are offering.
BUSINESS COST ASSISTANCE PROGAM ROUND THREE:
If your business already received funding through the Business Cost Assistance Program Round Two earlier this year (you would have applied for this for the May-June 2021 lockdowns), you should automatically receive a payment of $2,800 for Lockdown 6 (and more if you are located in Greater Melbourne).
SMALL BUSINESS COVID HARDSHIP FUND:
A new fund will be established for small businesses that have not been eligible for previous business support funds. Small businesses with payroll up to $70 million, and who have experienced a 70% or greater reduction in income, are eligible for grants up to $10,000.
COMMONWEALTH DISASTER PAYMENT:
Individuals, micro businesses and sole traders who are not eligible for any of the above grants may be eligible for financial support through the Commonwealth Government's Covid-19 Disaster Payment. These payments are either $375 or $600 per week, depending on eligibility. The Victorian Government have established a concierge service to help people access this support.
PARTNERS IN WELLBEING HOTLINE:
Last but certainly not least, the Victorian Government has established the Partners in Wellbeing Hotline; which is a free, confidential and one-on-one service providing support for small business owners and employees. This service offers trained wellbeing coaches, financial counsellors and business advisors and is available seven days a week. The Partners in Wellbeing Hotline is 1300 375 330.
Hopefully, this has helped to ease some of the current Covid confusion. If you find yourself needing more support, reach out to us! Click here to book for any questions, big or small!
And remember, during this time and all the time, please take care of yourself and your loved ones.