Last month, the Victorian Government announced that it would be adding a ‘July Extension’ to its Business Costs Assistance Program, for businesses who may not have applied, or been deemed eligible for the original funding program, administered in June.
The BCAP was created following the May-June Victorian lockdown, as a result of a short-term COVID outbreak in metropolitan Melbourne.
Created to support the types of businesses worst-hit by the lockdown and subsequent restrictions, the program saw successful applicants automatically ‘topped up’ with funding during the July lockdown – and a new opportunity for more businesses to apply for the support.
This extension of the program – only eligible to operators who didn’t receive the June funding, or July top-up – will see eligible applicants granted $4800 to help cover the costs incurred while operating under severe restrictions.
Businesses now have until 13 August 2021 to submit their application for the grant.
How do I know if I am eligible?
To be eligible for the Program, a business must:
- Be located within Victoria; and
- Be registered as operating in an eligible industry sector identified in the List of EligibleANZSIC classes (as defined by the ANZSIC class linked to the business’ ABN); and
- Have incurred direct costs as a result of the July COVID Restrictions and the business cannot predominantly operate remotely; and
- Have an annual Victorian payroll of up to $10 million in 2019-20 on an ungrouped basis; and
- Be registered for Goods and Services Tax (GST) on 15 July 2021; and
- Hold an Australian Business Number (ABN) and have held that ABN on and from 15 July 2021 .
- Be registered with the responsible Federal or State regulator; and
- For employing businesses only:
- Be registered with WorkSafe Victoria; and
- Attest that the business is supporting its workers to access any paid leave entitlements, or that if a person can work from home, to work from home during the July COVID-19 Restrictions, and supporting their casual workers, where possible.
As already indicated, businesses will that have received support under any of the following programs will be ineligible:
- Business Costs Assistance Program Round Two
- Licensed Hospitality Venue Fund 2021
- Licensed Hospitality Venue Fund 2021 – July Extension.
I think I might be eligible? What now?
- Clarify your ANZIC code. Your Accountant can help you do this if you aren’t sure what it is, or where to find it.
- Seek out the application (to make it easier, here’s the link)
- Apply, making sure you have included all the necessary supporting documents, including ID.
Still have questions? Contact us – Sinclair Wilson is here to help.
