What is the Business Costs Assistance Program?
The Victorian Government’s $391.2 million Business Costs Assistance Program Round Two assists eligible small to medium businesses most affected by the May to June 2021 COVID19 restrictions (COVID Restrictions).
The program offers grants of up to $7000 to eligible businesses, including employing and non-employing businesses, depending on their industry sector, location and the number of weeks they closed.
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.
To be eligible, you must:
- be located within Victoria
- be registered as operating in an eligible industry sector identified in the list of Eligible ANZSIC classes (as defined by the industry classification linked to the business’ ABN)
- have incurred costs (as outlined in Section 5 of the guidelines) as a direct result of the circuit breaker action announced on 12 February 2021
- have an annual Victorian payroll of up to $3 million in 2019-20 on an ungrouped basis
- be registered for goods and services tax (GST) on 12 February 2021
- hold an Australian business number (ABN) and have held that ABN at 12 February 2021.
Note on evidence of eligibility:
- If you are an employing business, you will need to provide the WorkCover Employer Number (WEN) or WorkSafe Application Reference Number (WRN) linked to the business
- Non-employing businesses (such as sole traders) need to provide an eligible proof of identity document.
Other eligibility conditions
- Businesses that received a grant under the Licensed Hospitality Venue Fund are not eligible for a grant under this program.
- If accommodation businesses apply to both the Business Costs Assistance Program and the Victorian Accommodation Support Program, the maximum grant they are eligible for will be capped at the higher value of the two grants (not the aggregate/total of both grants).
Round 2 will be open for applications until the date the program funds are exhausted or on 24 June 2021, whichever is earlier.