The Victorian Government has established an economic survival package to support Victorian businesses and workers through the devastating impacts of the COVID-19 pandemic.
The $1.7 billion Economic Survival Package complements the work of the Federal Government.
The package includes the following key programs.
Payroll Tax Refund
Businesses with annual taxable wages up to $3 million will have their payroll tax for the 2019-20 financial year waived. This will support 24,000 businesses and up to 400,000 workers.
The State Revenue Office will directly contact eligible businesses to reimburse them for payroll tax already paid in the financial year.
Eligible businesses must continue to lodge returns but do not need to make further payments for this financial year.
These businesses can also defer paying payroll tax for the first quarter of the 2020-21 financial year.
More information about the administration of these relief measures has been sent by Rad to eligible businesses and we have already started applying for these refunds.
Liquor licence fees waived
Renewable liquor licence fees for 2020 will be waived. Businesses that have already paid will be reimbursed.
The State Revenue Office will administer the reimbursement, regardless of whether the licence fee was paid to it or the Victorian Commission for Gaming and Liquor Regulation.
Business Support Fund
The $500 million Business Support Fund will support the hardest hit sectors, including hospitality, tourism, accommodation, arts and entertainment, and retail.
The Government will work with the Victorian Chamber, Australian Hotels Association and Australian Industry Group to deliver the Fund, which will help these businesses – which may not be eligible for payroll tax refunds due to their size – survive and keep people in work.
Working for Victoria Fund
Under the $500 million Working for Victoria Fund, displaced workers will be eligible to apply for different types of work. This presents opportunities for paid work and an opportunity to contribute to Victoria’s ability to manage this event and support the community.
Some displaced workers will have skills that can be readily transferred to new roles. The Government can also assist skills development or help people in obtaining immediate accreditation to commence work.
The Government will work across the public sector, local government, the not-for-profit sector and key private sector employers to facilitate job matching.
Land tax deferral
Landowners that have at least one non-residential property and total taxable landholdings below $1 million have the option of deferring their 2020 land tax payment until after 31 December 2020.
The State Revenue Office will contact all taxpayers who are eligible for this deferral.
Fast tracking outstanding supplier invoices
The Government will pay all outstanding supplier invoices within five business days – releasing up to $750 million into the economy earlier. The private sector is urged to do the same where possible.
Rent relief for commercial tenants in government buildings
The Government will work directly with commercial tenants in government buildings who can apply for rent relief. Private landlords are also being encouraged to provide rent relief or holidays to help businesses.
Business Victoria HOTLINE
Businesses across the state can now access information on dealing with COVID-19 by calling the Business Victoria hotline on 13 22 15.
Coronavirus (COVID‑19) updates
For the latest updates and advice on the novel coronavirus in Victoria, visit the DHHS website:
The Commonwealth Government has also announced its economic response to the
The support for business includes:
• Boosting cash flow for employers
• Increasing the Instant Asset Write-off
• Backing business investment
• Supporting apprentices and trainees
• Temporary relief for financially distressed businesses
• Supporting access to credit
Mental health and wellbeing during the Coronavirus COVID-19 outbreak
The outbreak of the coronavirus COVID-19 has impacted people in varying ways on an international scale. It is understandable during times like this that people may be feeling afraid, worried, anxious and overwhelmed by the constantly changing alerts and media coverage regarding the spread of the virus.
While it is important to stay informed, lifeline.org.au and beyondblue.org.au have some mental health and wellbeing tips and strategies to continue looking after ourselves and each other during these difficult times.
We would like to reassure Victorians that Lifeline and Beyond Blue services will continue as normal throughout the COVID-19 outbreak.
To contact Lifeline:
13 11 14 (24 hours/7 days)
0477 13 11 14
(6pm – midnight AEDT, 7 nights)
(7pm – midnight, 7 nights)
To contact Beyond Blue:
1300 22 4636 (24 hours/ 7days)
www.beyondblue.org.au/get-support/get-immediate-support (3pm – 12am, 7 days)
Get a response in 24 hours