Business Support Grants
and COVID Disaster Payments
With new announcements and updates happening so fast, we’re taking a moment here to run through what we know, with the appropriate links so you can start applying for available grants.
Circuit Breaker Business Support Package
This is open to Victorian Businesses affected by the circuit breaker restrictions announced on 27 May 2021. This package is to support businesses unable to operate during the restrictions and eligible businesses can receive a payment of $2,500. This is targeted for small to medium businesses & sole traders.
By applying for the grant, you are intending to use the funds for any of the following 4 reasons:
- Meeting business costs, including utilities, wages, or rent
- Seeking financial, legal or other advise to support business continuity planning
- Developing the business through marketing and communication activities
- Any other supporting activities related to the operation of the business
The ADAVB confirmed on 31 May 2021 that dentists would be eligible under industry code 8531
If you are a contractor dentist and unsure if these apply to you, we would suggest:
- For Gross-up method dentists, you can say that to cover your Service Fee would qualify for meeting the business costs such as rent, wages utilities of the clinic they work at.
- For both Nett method and Gross-up method, you can tick the box of any other supporting activities related to the operation of the business. You can include CPD or subscription expenses
We understand that using the grant to pay for accounting fees would be considered part of the advice to support business continuity planning. If you would like to explore this option further, please speak with your account manager.
For full details please click here: https://business.vic.gov.au/grants-and-programs/circuit-breaker-business-support-package
Please remember that this is a grant and not a payment. If the government knocks on the door, you will have to show that the grant money was utilised for the purpose of the business as per the above
Business Costs Assistance Program Round Two
If you meet the criteria for the Circuit Breaker Business Support Package, and are located in metropolitan Melbourne, you are eligible for a further $2,500, due to the extended lockdown period (ie. a total of $5,000). https://business.vic.gov.au/grants-and-programs/circuit-breaker-business-support-package/business-costs-assistance-program
Applications close on 24/06/21
We were going to do a quick reminder about the Qld Business Basics grant that
opened at 9.30am on the 31st of May. However, it closed a short 3 hours later at 12.39pm having reached 3,000 applications
submitted (100% allocation). Well, with that sort of speed, no wonder they don’t have daylight savings
The federal government announced a new payment plan that will be made available to anyone who has lost work in greater Melbourne over the next week.
However, this temporary COVID disaster payment will be available in the future to anyone who loses work in any state or territory that goes into a lockdown of more than 7 days (and commences at the start of the 2nd week)
Apply online https://www.servicesaustralia.gov.au/, or call Services Australia, from next Tuesday.
Who better than the man himself (Scomo) to explain this new payment and what the eligibility requirements are (don’t worry, it only goes for 3 minutes) : https://www.abc.net.au/news/2021-06-03/new-temporary-covid-payment-lockdown-explained/100188242
But in short
- A bit like JobKeeper, the amount you receive depends on the number of hours worked: $500 if worked 20+ hrs/week or $350 otherwise
- Opens on Tuesday 08/06/21
- Applications will have to show that they have less than $10k in liquid assets, and prove that they have used up other leave entitlements – including pandemic leave if offered – to receive money. (This basically means its either for casual employees or permanent if they have no leave entitlements left)
As we all know from last year, things can change at a moments notice, so while this information is correct at the time of writing, it is important to seek information from the links provided for the most up-to-date announcements and guidelines.