Government makes move to support business

As we move into troubling times, both the Federal Government and State Government are making efforts to provide support to business to ensure that the country comes out the other side well prepared

Victorian Premier, Daniel Andrews announced during the week that payroll tax refunds have now hit the bank accounts of 2,700 small businesses, putting $52 million immediately back into the pockets of business owners.

More than 21,000 small businesses have been contacted about their refund, with all eligible businesses who have provided their bank details to get their money from the Victorian Government by the end of next week.

In more support for businesses impacted by the Coronavirus, the first tranche of the Government’s $500 million Business Support Fund grants will flow from Monday, April 1, 2020 with $10,000 grants available for over 30,000 employers who don’t pay payroll tax.

The government will continue to work closely with business and unions and will announce further support over the coming weeks and months, in consultation with the Commonwealth, as the impacts of the Coronavirus evolve.

For more information on what is available and how to access it, take a look at the government website https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-support-fund