Lockdown Relief Payments
Here we go again with a large portion of the country in lockdown. NSW in their first really hard lockdown and Victorian’s into a 5th lockdown!
The Victorian Government in conjunction with the Federal Government have announced support for those impacted by the lockdown. See below for details.
Business
Automatic payments will be made to eligible businesses that were eligible through the Licenced Hospitality Venue Fund and Business Costs Assistance Program. Payment amounts as follows:
$2000 for successful recipients of the Business Costs Assistance Program Round Two; or
$3000 for successful recipients of the Licensed Hospitality Venue Fund 2021.
Per above payments will be made automatically, there is no need to apply.
Note: In light of the lockdown extension announced today, the above will be expanded and further details aanounced shortly.
Workers
Workers affected by the lockdown are also now eligible for the same payments available to NSW workers:
Payments of $600 will be made to Victorians that lose 20 hours or more of work during the period of the lockdown
Payments of $375 will be made to individuals that lose between 8-20 hours of work during the period of the lockdown
There is no liquid assets test applied to receive these payment
For more details, please see Services Australia website here. Note: It is not yet open for applications.
Click here for more info
Tax treatment of gov payments
With various payments of government support being offered over the last 12 months, it is important you are aware of the tax implications of each. Please see below brief summary of the main ones and link to a detailed ATO fact sheet.
ATO Cashflow Boost – Not Taxable
Jobkeeper – Taxable
Victorian Government Grants – Not Taxable however waiting for confirmation on Business Costs Assistance Program
Pandemic Disaster Payments – Taxable
As always we are here to help so please do not hesitate to contact our office with any queries.