Third Round of Business Support Fund Grant
Daniel Andrews Pressured For Business Support
The Victorian government has been told to increase its support grants and extend further concessionary measures in view of its protracted reopening roadmap.
Under the roadmap, most Melbourne businesses — including accounting and bookkeeping practices — will not be permitted to reopen until 26 October, on the condition that average state-wide cases fall under five for 2 weeks.
To cushion the impact of the reopening plan the Third Round of Business Support Fund Grant was announced on Tuesday 15th’s of September.
Grant from $10,000 to $20,000 depending on the business’ annual payroll.
The eligibility criteria is
- 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; andbe registered for Goods and Services Tax (GST); and
- hold an Australian Business Number (ABN); and
- be registered with the responsible Federal or State regulator.
Eligible businesses 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.
“My business received a grant through one of the previous Business Support Fund programs – do I have to apply again for the third round of the Business Support Fund to receive another grant” ?
“Yes, businesses still need to submit an application to receive a grant as this program has different criteria to the previous Business Support Fund programs. “- Spokeswoman from Business Support Fund Victoria
What can the grants be used for?
Grants may be used to assist the business on:
- meeting business costs, including utilities, salaries or rent;
- seeking financial, legal or other advice to support business continuity planning;
- developing the business through marketing and communications activities; or
- any other supporting activities related to the operation of the business.
What documentation or evidence do businesses need to provide with their application?
Applicants must provide:
- Their ABN, which must be linked to the correct ANZSIC classificationExternal of their primary business
- Their current business name that is registered, where required, with the relevant national or state regulator, such as the Australian Securities and Investment Commission (ASIC), the Australian Charities and Not-for-profits Commissioner (ACNC) or Consumer Affairs Victoria (CAV)
- Their WorkCover Employer Number (WEN) or, if this is yet to be issued by WorkSafe, a WorkSafe Application Reference Number (WRN)
- Their most recent JobKeeper Business Monthly Declaration Receipt ID or Enrolment ID generated from the Australian Taxation Office’s business portal.
Applicants must ensure that their ABN registration information and, where required, registration with ASIC or other relevant regulator is up-to-date at the time of application.
Applications with incomplete or incorrect information may experience delays and in some instances, this may result in an ineligible assessment. Please ensure you complete the application correctly and provide the correct documentation.
Assessing your application
We will endeavour to process and notify applicants of the outcome of their application within five business days. However, delays may occur if the application:
- does not meet all the eligibility criteria
- does not have correct evidence or documentation
- the State Revenue OfficeExternal is unable to verify if the business had less than $10 million in payroll tax for the year 2019-2020
- the application has been returned for amendments
- is a duplicate application for the same business
- has incorrect details such as incorrect ABN, WorkCover Employee Number (WEN) and banking details (for successful applicants)
- details with relevant regulators or partner agencies (State Revenue Office, ATO or WorkSafe Victoria) are not current and/or accurate.
The following circumstances are taken into consideration when assessing applications:
- if there are any adverse finding by a national or state regulator regarding the business
- if the business has been placed under external administration
- if there is a petition to wind up or deregister the business
- if the business is deregistered or unregistered (including cancellation or lapse in registration).
Applicants with multiple businesses
Only one grant per ABN is permitted. If an applicant has separate ABNs for their businesses, they will need to submit a separate application for each ABN. Each business and ABN must be able to satisfy each of the program eligibility criteria in its own right to be considered eligible for a grant.
Sole traders, partnerships and trustees
Sole traders, individuals in partnerships and individual trustees of trusts must employ people other than themselves to be eligible for a grant under this program. Sole traders may be eligible for the Sole Trader Support Fund.
Not-for-profit organisations with an annual turnover between $75,000 and $150,000 that are not registered for GST can apply for a grant. To be eligible, the organisation must meet all the other eligibility criteria and be registered with the Australian Charities and Not-for-Profit Commission
How to apply
Applicants must submit an application online via the ‘Apply now’ button on this page.
All questions in the application must be completed and any requested documentation attached to ensure timely assessment and grant payment.
Applicants must certify that they meet the eligibility criteria and intend to remain trading when restrictions are eased.
Applicants will be subject to an audit by the Victorian Government or its representatives and will be required to produce evidence (such as payroll reports) at the request of the Victorian Government for a period of four years after the grant has been approved.
If any information in the application is found to be false or misleading, any grant awarded to the applicant will have to be repaid on demand by the Victorian Government.
Please read all the information on this page, the program guidelines and the FAQs below before applying.
Applications for the grant open on 18th of September.