Phase Two Explained
The eligibility criteria will be expanded to include businesses with a wages bill less than the payroll tax threshold (of $650,000) who are participating in the JobKeeper Payment scheme, regardless of the sector they operate in. Eligibility for the fund will not be expanded to include sole traders, who are covered by the JobKeeper Payment scheme.
We note that the Business Support Fund is targeted at small businesses that may not be eligible for 2019-20 refunds and waiving of payroll tax, which applies to businesses with wages bills of $650,000 or above.
Businesses who have previously applied for Business Support Fund payments, but were initially not eligible based on their sector classification, will be contacted by the Department of Jobs, Precincts and Regions and do not have to submit a new application.
Businesses that have not previously applied for a grant due to their sector classification, are encouraged to make an application for a grant online at: www.business.vic.gov.au