The COVID-19 pandemic continues to present new challenges and the Government’s economic support continues to evolve.
Support is now available if you’re affected by COVID-19 and experiencing financial difficulty, especial during the current lockdown. See below for some of the grants you may be eligible to receive.
Commercial Tenancy Relief Scheme
The Scheme will help small and medium-sized businesses with an annual turnover of less than $50 million that have experienced a fall in turnover of more than 30 per cent during the pandemic
Who is eligible?
In most cases, an eligible tenant:
is an ‘SME entity’ that, as at 28 July 2021, operated a business in Australia;
satisfies the decline in turnover test as set out at regulation 12 of the Scheme
is not an ’excluded’ tenant or certain prescribed class of tenant;
The Scheme will help small and medium-sized businesses with an annual turnover of less than $50 million that have experienced a fall in turnover of more than 30 per cent during the coronavirus (COVID-19) pandemic.
It is important that tenants read the regulations for eligibility carefully.
Outline of this Scheme program:
This is to ease the financial hardship faced by commercial tenants as a result of the coronavirus (COVID-19) pandemic;
Landlords and tenants will discuss to reach an agreement on the reduced rent fees.
If an agreement is reached between landlords and tenants, they will receive:
Eligible tenants will be provided with a proportional rent relief in line with a business’s reduction in turnover. For example, a business with a turnover of 40 per cent of pre-pandemic levels can only be charged 40 per cent of its rent
Landlords who provide rent relief to their tenants will be supported with land tax relief of up to 25 per cent
For more information, tenants and landlords can access updates about the new regulations and FAQs for the Scheme and our step-by-step process for tenants and landlords.
Small Business COVID Hardship Fund
The program offers grants of $20,000 to eligible small and medium businesses, including employing and non-employing businesses
Who is eligible?
whose operations have been severely impacted by COVID-19 restrictions that have been in place between 27 May 2021 and August 2021;
that have experienced at least a 70% reduction in turnover as a result of the COVID-19 restrictions;
that are ineligible for other key COVID-19 Victorian Government business grant programs that have been announced since 27 May 2021.
Eligibility
Businesses must:
be located within Victoria;
as a direct consequence of COVID‑19 restrictions since 27 May 2021 have experienced a reduction in turnover of at least 70% for a minimum consecutive two-week period comparable to a benchmark period in 2019;
have an annual Victorian payroll of up to $10 million in 2019-20 on an ungrouped basis;
have been registered for Goods and Services Tax (GST) on and from 28 July 2021
hold an Australian Business Number (ABN) and have held that ABN on and from 28 July 2021;
be registered with the responsible Federal or State regulator.
Employing businesses must also:
be registered with WorkSafe Victoria;
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.
Applications are open from Thursday 12 August 2021 until program funds are exhausted or 11:59 pm on Friday 10 September 2021.
If you have any questions, please feel free to contact us at info@lyndengroup.com.au