In response to the economic crisis, the Victorian Government has approved nearly AUD $2 billion in direct support for emergency relief and economic stimulus.
The support package includes in the following programs and initiatives:
– Business Support Fund: AUD $10,000 grants for small and medium sized businesses in most impacted sectors which may be used of salaries, rent, and utilities, along with continuity planning activities
– Working for Victoria Fund: AUD $500 million fund to support displaced Victorian workers find employment in different types of work
– Payroll Tax Refund: Waiving payroll tax for the 2019-20 financial year for businesses with annual taxable wages of up to AUD $3 million
– Land tax deferral: Eligible landowners may defer 2020 land tax payments until 2021
– Fast tracking outstanding supplier invoices: Victorian Government to pay outstanding invoices for suppliers within five business days
– Government building rent relief: Commercial tenants in government buildings may have access to rent relief
Further information on the Victorian Government’s response programs can be found on their official website.