Coronavirus VIC Stimulus Package

The Victorian Government has now established a $1.7 billion economic survival package to support Victorian businesses and workers during the COVID-19 pandemic.

BUSINESS /HOUSEHOLD SUPPORT

  • Establishing a Business Support Fund to provide grants of $10,000 per eligible small business (with payroll of less than $650,000 and turnover of more than $75,000), and assist those in the hardest-hit sectors including hospitality, tourism, accommodation, arts/entertainment and retail (who may be ineligible for payroll tax reliefs due to their size). Government Funding/Tax Cuts - $500 million.

  • Payroll tax waiver for businesses with Victorian annual taxable wages up to $3 million for the 2019-20 financial year, with obligation to continue to lodge payroll tax returns.

  • Payroll tax deferral for these businesses in the first quarter of 2020-21 financial year.

  • Land tax deferral for land owners who have at least 1 non-residential property and total taxable landholdings below $1 million for the 2020 land tax year until 1 January 2021.

  • Liquor licence fees waiver for the 200 year.

  • Establishing a Working for Victoria Fund to partner with Sidekicker to create an online platform for connecting employers with displaced workers who can then apply for different types of work. Government Funding/Tax Cuts - $500 million.


    On 18 March 2020, the Melbourne City Council passed the following measures worth $10 million to keep businesses and their employees afloat:

    BUSINESS SUPPORT

  • Grants for small businesses to develop e-commerce and online services. Melbourne City Council Funding/Tax cuts - $500k

  • Training and support at businesses. Melbourne City Council Funding/Tax cuts -$1 million

  • Suspending fees for Food Act registrations, street trading and outdoor dining permits for 3 months, Melbourne City Council Funding/Tax cuts - Balance

  • Halving rent for eligible tenants in council-owned buildings for 3 months.

  • Establishing a support service to provide advice to struggling businesses.

  • Deploying casual and part-time cleaners