The Victorian Government has recently announced that it will provide grants to eligible construction businesses under the Business Costs Assistance Program Round 4. One-off payments will be offered to employing and non-employing construction businesses that meet the eligibility criteria and are impacted by the two-week shutdown from 21 September – 4 October 2021.

Based on the payroll size of the company, payments of up to $8400 will be made available. The program will remain open until 9 November 2021 or when funds are exhausted, whichever is sooner.

Eligibility Criteria- Who Can Apply?

To apply for the grant, construction businesses must:

• hold an Australian Business Number (ABN)
• be located within Victoria
• be registered with WorkSafe Victoria
• be registered for Goods and Services Tax (GST) on and from 24 Sep 2021
• have an annual Victorian payroll of up to $10 million in 2019-20 on an ungrouped basis
• operate in an eligible sector listed in eligible ANZSIC classes for this program
• have been contracted to undertake, or supply workers to undertake work at:
  • Local Government Areas (LGAs) in metropolitan Melbourne
  • City of Greater Geelong
  • Mitchell Shire, and
  • Surf Coast Shire
• have incurred direct costs because of the restrictions from 21 Sep to 4 Oct 2021

Who Are Not Eligible To Apply?

Businesses that are not eligible to receive a grant in round four are those:

• undertaking construction work at Fully Exempt State Critical Infrastructure Project worksite
• who have already received support under any of the following programs:
• Business Costs Assistance Program Round Two
• Business Costs Assistance Program Round Two July Extension
• Small Business COVID Hardship Fund.
• undertaking exempt construction work at shutdown constructions sites

No matter, how many businesses you own, you can only apply for one grant per ABN. A separate application needs to be filed for multiple eligible businesses having a different ABN.

The Payable Grant Amount

Depending on the payroll size, the grant amount payable is decided. The eligible businesses that will receive the funds under this program cannot receive automatic top-up payments under the Business Costs Assistance Program Round Two and the Business Costs Assistance Program Round Two July Extension. The amount decided is:

• $2000 for non-employing businesses
• $2800 for employing businesses with payroll below $650,000
• $5600 for employing businesses with payroll between $650,000 and $3 million
• $8400 for employing businesses with payroll between $3 million and $10 million.

How To Apply?

When applying make sure you have all the necessary documents asked by the Victorian Government for the filing process. The program will remain open until 11:59 pm on 9 November 2021. Make sure your ABN details are correct and updated.

If you are looking for a professional accountant to file the application for you, KPG Taxation is here at your service. You can visit us on any working day for a consultation.