Victorian Government Economic Support

As part of a $1.7 billion economic survival package, the Victorian Government has announced $500 million to establish a Business Support Fund to assist small to medium businesses most impacted by the COVID-19 outbreak.

In Summary

Payroll Tax Refunds - $550 million allocated to small and medium-sized enterprises with a payroll of less than $3 million as a payroll tax refund. Refunds to start next week.
$500 million allocated into a fund for hardship payments, small grants and tailored support which would be distributed in consultation with the Victorian Chamber of Commerce and Industry, the Australian Hotels Association, the Australian Industry Group and other industry representatives.
The third component of the package, worth more than $600 million, included a range of measures such as the waiving of 12,5000 venues' liquor licence fees due this month and worth a total of $30 million.

READ MORE -

Related News

Yesterday

Why Mental Health and Money Must Be Managed Together

Running a small business has always been personal. Every sale, every setback, every sleepless night - it all comes back to the same person: the owner.

The State of Small Business in 2025: Pressure, Purpose, and the Path Forward

A staggering 93% of small business owners reported higher costs this year, while 64% saw profits fall. Taxes, wages, and insurance top the list of pressures, with taxes ranked as the number one cost by half of respondents of a recent report.

Resilience Under Pressure: What the 2025 Small Business Perspectives Report Reveals About Australian Business Owners

Australia’s small business sector has always been defined by its resilience - but the latest Council of Small Business Organisations Australia (COSBOA) and CommBank Small Business Perspectives Report 2025 shows that resilience is being tested like never before.