Explained: When will COVID-19 business support end in Victoria, NSW and ACT?

Melbourne Queen Victoria business support

Melbourne's Queen Victoria Market. Source: Unsplash/Linda Xu

Business support payments and one-off cash grants are coming to an end in New South Wales, Victoria and the ACT, as states reach 80% double vaccination targets.

In NSW and Victoria, JobSaver payments and the business cost assistance program are gradually tapering off, while other support packages for outdoor dining will soon become available.

Here’s a summary of the support payments that will end or continue in states emerging from lockdowns.

NSW  

JobSaver

Under the JobSaver program, businesses received regular payments equivalent to 40% of their payroll, provided they maintained their staff headcount and experienced a decline in revenue of at least 30%.

When NSW reached 70% double-dose vaccination earlier this month, payments dropped to 30% of weekly payroll.

From October 24, payments changed to 15% of weekly payroll for businesses in Greater Sydney. In regional NSW, payments will drop to 15% of weekly payroll on October 31.

Sole traders in Greater Sydney who receive weekly payments as part of the JobSaver program will receive $375 per week instead of $1000 from October 24, while payments will drop to $375 on October 31 for non-employing businesses in regional NSW. 

JobSaver payments will completely wind up on November 30.

Micro-business grants 

The fortnightly grant of $1500 for micro-businesses across NSW will drop to $750 after the state reaches the 80% double vaccination rate on October 31.

The program will come to an end on November 30. 

Stock guarantee grant 

NSW announced a new grant scheme for businesses that may suffer financially from localised lockdowns over the summer.

Under the SME summer holiday stock guarantee, businesses can apply for grants of up to $20,000 to compensate for loss of perishable stock.

Businesses can also claim up to $10,000 to cover loss of revenue from capacity restrictions. 

More information will be available online soon

Fees and charges rebate  

Businesses have until June next year to claim a fees and charges rebate of up to $2000.

Eligible fees include road tolls and select council and state fees and charges.

Outdoor dining grants  

The Alfresco restart initiative includes $5000 grants for hospitality businesses to build outdoor dining areas. More information will be available soon.

Victoria 

Business cost assistance program  

The business cost assistance program, which offers businesses payments of $1000 to $8400 per week, will wind up on October 31.

During October, businesses will receive two fortnightly payments of up to $8400 per week, depending on their payroll.

Businesses required to stay closed or operate under severe restrictions after the 80% double vaccination milestone is met will receive automatic payments until November 13.

Licensed hospitality venue fund

Businesses that have received funding under the licensed hospitality venue fund program will continue to receive payments throughout October.

When the state hits the 70% target for full vaccination, these payments will be reduced by 25% in metropolitan Melbourne and by 50% in regional Victoria. The payments will continue at that lesser amount until the state reaches the 80% double vaccination milestone, according to a statement.

Hardship Fund 

Additional funding for the Small Business COVID Hardship Fund will see eligible businesses receive a one-off grant payment of $20,000 in October.

The grants are for businesses that suffered significantly due to restrictions or have not been eligible for previous business support. More information is available here.

Outdoor dining grants 

As part of an outdoor economy package, the Victorian government will offer businesses grants of $2000 to cover the cost of setting up dining spaces outside.

Business, such as hairdressers, retail shops and gyms, will also be able to apply for vouchers to expand outdoors. More information will be available online soon.

ACT

Business support grants 

During the ACT’s lockdown, the state government established the COVID-19 business support grants program for businesses that suffered a 30% decline in turnover. The payments were based on turnover and ranged from $7500 to $20,000.

Businesses received their first payment in late September, before receiving an automatic extension payment in October. A top up payment for larger businesses has been announced but the dates have not yet been confirmed.

Hardship scheme

The COVID-19 small business hardship scheme offers small businesses up to $10,000 in credit, allowing them to receive credits on payroll tax, utility charges, rates and other fees.

To be eligible, businesses must have experienced a 30% loss of revenue from June quarter 2021 to September quarter 2021 and have a turnover between $30,000 and $10 million.

Applications are expected to open this month and businesses can register their interest here.

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