Small Business COVID Hardship Fund (Victoria)

 

The Small Business COVID Hardship Fund offers grants of up to $14,000 to businesses that have been severely impacted by COVID-19  experiencing a decline in turnover of at least 70% but are ineligible for other business grants programs.

Eligibility

To be eligible for the hardship fund, you must:

  • Be located within Victoria; and
  • Have experienced a decline in turnover of at least 70% for a minimum consecutive two-week period since 27 May 2021 (based on your worst minimum consecutive two-week trading period between 27 May and 10 September 2021 compared with a minimum consecutive two-week trading period between 27 May and 10 September 2019 from a similar time of the year); and
  • Have an annual Victorian payroll of up to $10 million in 2019-20 on an ungrouped basis; and
  • Be registered for GST on and from 28 July 2021;
  • Hold an ABN and have held that ABN on and from 28 July 2021; and
  • Be registered with the responsible Federal or State regulator (ASIC, ACNC or Consumer Affairs Victoria).

If your business is an employing entity, your business must also:

  • Be registered with WorkSafe Victoria; and
  • Attest that the business is supporting its workers to access any paid leave entitlements, or that if a person can work from home, to work from home during the COVID-19 restrictions, and supporting their casual workers, where possible.

Businesses that are eligible for any other support packages launched on or after 27 May 2021 will not be eligible for the hardship fund. In addition, organisations that operate a private gender-exclusive club where membership is only by invitation or nomination by an existing member are not eligible for assistance under the Program.

How to apply

To apply for the hardship grant, you can:

Grant applications close 10 September 2021.

 

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About the Author: David McKeller

David McKellar is a Chartered Accountant and Director of Allied Business Accountants, an accounting firm specialising in providing strategic advice and taxation services to business owners, investors and Self Managed Superannuation Funds.

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