Vic gov reveals support package for small businesses

The Victorian government has announced a $3 billion package to support small businesses affected by the Covid-19 lockdown, reports the ABC.

The package includes $1.1 billion in cash grants to small and medium-sized businesses ‘most affected’ by Covid-19 restrictions; a payroll tax deferment for the 2020–21 financial year for payrolls up to $10 million, as well as another $137 million worth of other tax relief measures; and $20 million for small businesses to access digital programs such as Shopify or Square Online and online training and workshops.

According to data from accounting software program Xero, Victoria’s small business revenue was down 3.8% in August compared to the previous year, while the rest of the country was up by 1.5%.

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Category: Local news