Business Costs Assistance Program

Business Costs Assistance Program

What is the Business Costs Assistance Program?

The Business Costs Assistance Program Round Five is an initiative which aims to support eligible small to medium businesses in sectors affected by the current restrictions in metropolitan Melbourne and regional Victoria, jointly funded by the Commonwealth and Victorian Governments.

Round five will provide additional payments for businesses across Victoria that were recipients of the Business Costs Assistance Program Round Two or the Business Costs Assistance Program Round Two July Extension grant.

 

Funding

Payment amounts to eligible businesses will be based on whether your business employs staff and, if so, the annual payroll size for 2019-20 as advised by the State Revenue Office (SRO). The payment levels are as follows:

  • $1000 per week for non-employing businesses.
  • $2800 per week for businesses with an annual payroll below $650,000.
  • $5600 per week for businesses with an annual payroll between $650,000 and less than $3 million.
  • $8400 per week for businesses with an annual payroll between $3 and $10 million.

These payments are in line with the phasing in Victoria’s Roadmap to Deliver the National Plan and thresholds for achieving 70%, then 80% vaccination rates, which means the dates may be subject to change.

Payments will be made automatically on a fortnightly basis. You do not need to apply for the payment.

For further information, please read all the information on this page, including the frequently asked questions (FAQs).

 

Eligible Projects

The program seeks to assist eligible businesses that have incurred costs as a direct result of the circuit breaker action announced on 12 February 2021 which may include, but are not limited to:

  • the loss of perishable goods (e.g. food or flowers)
  • cancellation fees and charges (e.g. venue/performer/instructor)
  • booking cancellations
  • other costs and losses incurred due to the circuit breaker action that could not be reasonably avoided.

These costs may have been incurred prior to, on or after 12 February 2021. The costs must be incurred by the applying business, as defined by its ABN.

 

Eligible Applicants

You are eligible for Round Five if you have received a grant from Round Two or the Round Two July Extension program. However, businesses that have closed, have ceased to operate in Victoria or no longer meet the program eligibility criteria since they were assessed as eligible for the Business Costs Assistance Program Round Two or the Round Two July Extension program will not be eligible for this support.

In Phase A, businesses in metropolitan Melbourne and regional Victoria that are subject to lockdown restrictions will receive fortnightly payments. Businesses in eligible ANZSIC classes located in areas not subject to stay at home restrictions will also receive fortnightly payments.

In Phase B, businesses in metropolitan Melbourne and regional Victoria in eligible ANZSIC classes that remain closed or heavily restricted are eligible for the payments. Please note these are not the same ANZSIC classes as for Phase A.

Businesses that have closed, have ceased to operate in Victoria or no longer meet the program eligibility criteria since they were assessed as eligible for Round Two or the Business Costs Assistance Program Round Two July Extension program will not be eligible for this support.

If you are eligible, you don’t need to do anything. The payments will be made automatically in fortnightly instalments. If you believe you are entitled to Business Costs Assistance Program Round Five payments and have not received an email confirming your eligibility by mid October,

 

Timing

Round 5 applications open on an ongoing basis. 

 

More Information

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