[VIC] $5,000 Government Grant to Help Businesses from COVID-19 Lockdowns

Lthimothiz on 08/07/2020 - 14:30
Last edited 08/07/2020 - 15:30 by 2 other users

Moved to Forum: Original Link

Businesses can apply if they:

are operating in a postcode that is affected by the return to Stage 3 restrictions (not necessarily their registered address); and
are an employing business; and

are currently registered to pay GST; and

have a payroll of less than $3 million per annum; and

hold an Australian Business Number (ABN) and have held that ABN at 16 March 2020 (date of the State of Emergency declaration); and

have been engaged in carrying out the operation of the business in Victoria on 16 March 2020.

Mod: Deal doesn't meet Government Program Deal Posting Guidelines. Deemed as Income Producing/Social Services. Moved to forums.

Financial

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Comments

  • zhuntai on 08/07/2020 - 14:36
    +1

    So… all Melbourne businesses now?

    • jv on 08/07/2020 - 14:41
      +1

      No

      • Anoni Mouse on 08/07/2020 - 15:34
        +3

        Actually a valid question jv because all of Melbourne went into lockdown after this program was released.

    • jimbobaus on 08/07/2020 - 16:38

      Still only for the original postcodes that went into lockdown
      Vic/Fed Gov going to announce more measures tomorrow for all MELB based biz etc

  • athk on 08/07/2020 - 14:36

    Should put VIC in the title.

  • jv on 08/07/2020 - 14:40

    are currently registered to pay GST;

    So most sole traders are excluded…

    • PlagueistheCheap on 08/07/2020 - 14:52
      +1

      have a payroll of less than $3 million per annum

      But includes all hospitality

      • jv on 08/07/2020 - 15:00

        The lock down is affecting a lot more people than just hospitality.

    • nmachine on 08/07/2020 - 15:04
      +4

      My partner is a sole trader who has had no income since this all started, I'm in the construction industry and know many tradies in similar situations. Seems like a big group of people who have slipped through the cracks between the stimulus packages.

      • jv on 08/07/2020 - 15:05
        +4

        My partner is a sole trader who has had no income since this all started

        Assuming they did their tax last year, the should qualify for jobkeeper then.

        • [Deactivated] on 08/07/2020 - 15:31

          Haha.

        • nmachine on 08/07/2020 - 15:33

          They were not a sole trader last year so no, and unfortunately my income is just a tiny bit too high for her to get any other benefits

          • jv on 08/07/2020 - 15:36
            +2

            @nmachine:

            They were not a sole trader last year so no

            I guess that was to stop people suddenly becoming sole traders when this all started, and also need a baseline to prove they were financially worse off this year because of the virus. There were some exceptions though, so I assume you looked into those.

            • nmachine on 08/07/2020 - 15:47

              @jv: I am not entirely sure of what these exceptions are. She worked very hard to get qualified and off any help, she knows very well how crappy centerlink is to live with a be on so she doesn't really want to go back to it.

        • netjock on 08/07/2020 - 17:07
          +1

          JobSeeker isn't too bad either.

      • netjock on 08/07/2020 - 17:07
        +1

        Construction site next to me building a 20+ story student accommodation is going gang busters. They were even working last weekend.

  • acersaurus on 08/07/2020 - 15:09

    Great for business owners, in my opinion it belongs here as it is a targeted freebie.

    Anecdotally.. the Victorian Government is beyond broke and the reserve bank had to step in by printing money to lend Victoria to keep the price it has to pay for borrowing low (quantitative easing, something that has never been done for a state government). Anyway, im sure we'll pay it all off over the next several decades.

    • PlagueistheCheap on 08/07/2020 - 15:13
      +2

      "Freebie", if you're not targetted, you're paying for it.

      • bargainpersona on 08/07/2020 - 19:26

        Not if you are not a taxpayer.

        If you are targeted then it seems you have been paying for it in advance (at least in part).

    • Taro Milk Tea on 08/07/2020 - 15:13

      Then OP/our gorgeous mods, should have made this as TARGETED.

      But again, this is not a bargain!

    • ymidk on 08/07/2020 - 15:30

      So… a government body with a AAA credit rating, a pipeline of NPV+ infrastructure investments is what you consider broke? You must be running quite the balance sheet

      • acersaurus on 08/07/2020 - 15:56

        Beyond broke, and in a massive growing debt hole just as the major source of revenue (stamp duty) has collapsed due to lack of property sales.

        https://www.theage.com.au/politics/victoria/government-to-bo…

        • ymidk on 08/07/2020 - 16:09

          Yeah… I'm not sure you we have the same definition of broke. Insolvent, unable to pay debts when they fall due, no longer a going concern - not things I'd say about the state of Victoria.

          There's going to need to be tax reform at all levels but if Victoria simply got the same infrastructure spend that NSW gets then they wouldn't have needed much private debt at all. If they're permitted to set aside the 24B then they'll spend it, but a large chunk of it is aimed at keeping local industries alive. I'd prefer debt over economic desolation.

          • acersaurus on 08/07/2020 - 16:24
            +1

            @ymidk: Id prefer debt over economic desolation too. Im not criticising them just making an observation.

            A Government that is able to access printed money to fund debt (quantitative easing) cannot run out of money, however if the RBA did not intervene the interest rates paid by the state gov would have trended towards the unsustainable. So lets say broke in the absence of central bank intervention.

    • netjock on 08/07/2020 - 17:08

      The federal government is beyond broke. You see the national debt? I doubt most state governments are going to be solvent (defined by income = expenditure).

  • [Deactivated] on 08/07/2020 - 15:14
    +1

    So Sole traders registered for GST are eligible?

    • jv on 08/07/2020 - 15:18
      -1

      Yes, if they employ people.

      • giventofly on 08/07/2020 - 15:21

        But the person running the business is employed…?

        Weird.

        • jv on 08/07/2020 - 15:23
          -1

          not sure, check with your accountant.

  • giventofly on 08/07/2020 - 15:16
    +2

    There are forums for reason. But I suppose you won't get upvotes from a forum post 🤷‍♂️

    • Taro Milk Tea on 08/07/2020 - 15:19
      -2

      Mods can certainly move this if they want to, but they won't, which I'm not sure why.

  • error619 on 08/07/2020 - 15:18
    -1

    Considering the Government Quarantine at Hotel caused this, this is no deal.

    • jimbobaus on 08/07/2020 - 16:39

      Oh look.. someone who does not know the actual facts
      But why would you let that get in the way of whinging i guess

      • hazzad on 09/07/2020 - 08:23

        Then kindly avail us of the facts then. I'm of the same opinion that this breakout has originated from the bungled quarantine situation. I'd be more than happy to be convinced otherwise.

  • ShipShapeRC on 08/07/2020 - 15:18

    Great another deal partnerships get screwed on. JobKeeper only pays for 1 person in a partnership - even though the name partnership kind of implies more than one person. JobKepper for 5 months will cover just the lost business from Easter. I doubt we will ever recover now. This has gone on so long already, I'm measuring COVID duration in haircuts. 3 so far.

    • PlagueistheCheap on 08/07/2020 - 15:21

      Might have to switch to mullets

      • ShipShapeRC on 10/07/2020 - 08:48

        Still got to cut the top.

    • rompastompa on 08/07/2020 - 15:37

      I'm measuring COVID duration in haircuts. 3 so far.

      I prefer the Adam hills style (shave for brexit). Though, I'm getting into the above comment territory at the moment. Not sure if I can do it!

    • netjock on 08/07/2020 - 17:12

      Partnerships. Joint liability. Split profits 50/50. All disadvantages none of the benefits. Better off incorporating into a company.

  • Viospeed on 08/07/2020 - 15:23
    +1

    All of this money will need to be paid back at some point one way or another by tax payers.

    • mr fox on 08/07/2020 - 15:33

      Never fear, just pass the buck to Gen Z like everything else.

      • Viospeed on 08/07/2020 - 15:37

        Governments will kick the can down the road so they look good for re election and pass the mess onto the next elected official. It's the never ending cycle of shite.

  • Timbo94 on 08/07/2020 - 15:26

    Where's the bargain? What did the price used to be?

    • muncan on 08/07/2020 - 17:54
      +1

      Dignity

  • shmahoo on 08/07/2020 - 15:28
    +1

    I'm not sure if this works for all of Metro Melbourne now or not. This deal was originally targeted towards the affected 10 (then 12) postcodes. Now that the lock down has been extended to all of metro Melbourne, it's possible a grant like this can apply to all approved businesses.

  • [Deactivated] on 08/07/2020 - 15:32
    -1

    Bargain? Thought it is a cost for tax payer not benefiting.

  • Janko on 08/07/2020 - 15:33
    -1

    Hopefully Vic government respects the law, where fraud is illegal.

    NSW doesn't, requiring me to first spend a few thousand on someone calling themselves an accountant to do my books for the chance at being accepted for a grant from $1 - $10k.

    • netjock on 08/07/2020 - 17:13

      Could probably do it yourself but don't expect to get paid for a few months. Accountants some how gets to skip the queue. I have seen JobKeeper applications / declarations at about $120 per month.

      • Janko on 08/07/2020 - 19:42

        Nah, they wouldn't accept my application as it didn't come from an accountant with an ABN.

        My company's situation is exactly what the grant was designed for too, but sense I'll waste more money and time dealing with them and an accountant than it's worth.

  • Jimb000 on 09/07/2020 - 08:15

    Goodbye economy

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