The Victorian government has responded to the COVID-19 pandemic with a raft of grants and support packages and navigating these has become increasingly confusing. As it stands businesses may be eligible for one or more of the following;
– Business Support Fund
– Licensed Hospitality Venue Fund
– Sole Trader Support Fund
– Outdoor Eating and Entertainment Package
– Melbourne City Recovery Fund
– The list goes on!
It is important for business owners to understand how the various grants interact with each other, to ensure that they receive the maximum amount of funding. For example, did you know that if your business is eligible for the Licensed Hospitality Venue Fund then it is not eligible for the third round of the Business Support Fund, and that the Licensed Hospitality Venue Fund may provide more funding?
Applications for the Business Support Fund are open now but the process for applying for many other grants has not yet been finalised. ID Accounting & Wealth Solutions is ready to assist businesses in determining which grants they may be eligible for and submitting applications. As your tax agent we can submit applications on your behalf. Please contact us if you have any questions or need assistance with your application.