State Government COVID-19 initiatives
May 05, 2020
The Victorian government has announced some updates to initiatives to help businesses affected by the COVID-19 pandemic.
The rules of eligibility for the $10,000 small business grant from the Victorian government have been extended. It is no longer necessary for the business applying for the grant to have a wages bill (over $650,000) that makes them liable to pay payroll tax. More details about the grant can be found here. The extension of the scheme means that some smaller businesses such as sole traders and businesses that mainly engage contractors may be eligible. Small businesses, including contractors, will need to be registered for GST and not just hold a ABN to be eligible.
The detail of the commercial rent relief is now clearer as regulations have been made by the Victorian government to implement the National Cabinet decision about commercial leases relief measures. More information about the arrangements can be found here. Key features of the arrangements include a moratorium on evictions and rent increases, negotiations for rent waiver and deferral, and meditation services to help landlords and tenants negotiate rent relief. Some landlords who agree to rent relief will be eligible for land tax concessions. The mediation service will be run by the Victorian Small Business Commission.
For further information, please contact HIA Workplace Services on 1300 650 620.