KW Insights | Additional COVID Support

Prime Minister Scott Morrison and Victorian Premier Daniel Andrews came to an agreement on the 16^th July to provide aid to Victorian workers located in the latest COVID hotspots who will lose income due to the new restrictions.

Individuals who have lost between 8 and less than 20 hours of work will receive a payment of $375, while those who have lost more than 20 hours work get $600. The Federal Government will fund payments for those Victorians who work or live in a COVID-19 Hotspot declared by the Commonwealth – that includes Greater Melbourne, Moorabool Shire, the City of Greater Geelong, Borough of Queenscliffe and the Surf Coast Shire. The Victorian Government will fund payments for Victorians who live outside of these areas but are still subject to the lockdown.

There are now no restrictions on who is eligible to receive the payment, the assets test having been scrapped. Previously, recipients of the disaster payment had to demonstrate they had less than $10,000 in savings. 

While eligibility for the individual payments is still based from the second week of a lockdown onward, the first week will also be covered “on an arrears basis” on application to Services Australia, seven days after the commencement of the lockdown.

The new agreement is in line with the Prime Minister’s remarks earlier on Thursday, proposing a “streamlined set of financial supports” for residents and businesses located in a Commonwealth-designated COVID hotspot or those subject to lockdowns enforced by states or territories. 

All applications can be made through the Services Australia at www.servicesaustralia.gov.au

The Victorian Government will provide new cash grants for businesses affected by the short lockdown necessary to get ahead of the Delta strain, so they can have a strong recovery on the other side of the public health restrictions.

Automatic payments will be made to eligible businesses and sole traders across the state to minimise delays and swiftly get money into the pockets of businesses who need it most.

Up to 90,000 businesses that have and will receive payments through the Licensed Hospitality Venue Fund and Business Costs Assistance Program relating to the May-June lockdown will receive the Victorian Government’s new support payments of $3,000 and $2,000 respectively.

Payments are due to commence over the course of next week – with total funding of $201.8 million. Eligible businesses will include restaurants, cafes bars, event suppliers, tourism and accommodation providers and non-essential retailers.

Further Relief Provided

On the 21^st July, the Victorian Government announced a further $282.5 million to help businesses survive the extended Lockdown 5.0.

Previous recipients of the Licenced Hospitality Venue Fund, Business Costs Assistance Program, Alpine Business Support, Impacted Public Events Support Program, Live Performance Support Programs and Sporting Club Grants Program will automatically receive top up payments, whilst those who have chosen not to apply for those in Lockdown #4 or had been ineligible to apply but are now eligible, will be able to apply to apply for the July support payments and considered outside of the top up process.

A summary of the additional support payments available are as follows:

For more information regarding these announcements, please click here or contact your King & Whittle Adviser.