Victorian construction businesses to receive cash grants

(Picture: Fred R Flickr)

The Victorian Government is backing construction businesses most affected by lockdown restrictions with a $196.6 million package of cash grants for thousands of operators as the industry prepares to reopen next week.

The new support package will provide a one-off payment to eligible businesses, including sole traders, covering the restrictions period from 21 September to 4 October.

More than 70,000 construction businesses in Melbourne, the City of Greater Geelong, Surf Coast Shire and Mitchell Shire could be eligible for Business Costs Assistance Program Round Four – Construction grants.

Eligible non-employing sole trader businesses will receive a one-off payment of $2,000, increasing to $2,800 for businesses with an annual payroll of up to $650,000, $5,600 for a payroll of $650,000 to $3 million and $8,400 for a payroll of $3 million-$10 million.

The Commonwealth has broken with its well-established principle of co-funding business support packages 50:50 with states across the country – despite having funded NSW construction businesses during their recent construction shutdown. Data released this week shows NSW has also received $6.15 billion in COVID-19 Disaster Payments, compared to $2.40 billion for Victoria. In the week to 26 September, NSW received 85 per cent more in these payments than Victoria.

Up until the point at which Victoria reaches 80 per cent full vaccination, construction workers who lose hours of work due to restrictions can access these cash grants under the Commonwealth‘s scheme, as can sole traders who are not registered for GST, lose work and do not qualify for state support.

The payment is currently set at $450 for people who have lost from eight to 20 hours work or a full day of work – over seven days – and $750 for 20 hours or more of work lost.

Read more at Build Australia.

Get information from the Business Victoria site.