In this article we have outlined the following:
2. Small Business COVID Hardship Fund
3. Licensed Hospitality Venue Fund
1. Business Costs Assistance Program Round 5
For businesses who have been eligible for the previous Business Costs Assistance Program, you will AUTOMATICALLY receive 2 x fortnightly payments between 1–29th October 2021.
At this stage new applications for BCAP are not being accepted, if applications re-open we will provide an update.
This time, payments will be tiered as follows depending on the businesses annual payroll:
• $1K a week for businesses that are non-employing
• $2.8K a week for businesses with an annual payroll below $650K.
• $5.6K a week for businesses with an annual payroll $650K–$3 million.
• $8.4K for businesses with an annual payroll $3 million–$10 million.
Businesses that remain closed or severely restricted between 70 and 80 per cent double dose achievements will receive an automatic payment for the period from 29 October to 13 November 2021.
2. Small Business COVID Hardship Fund
It is unclear whether these funds are to go towards those who have already applied and yet are still pending, or towards new applications.
The Fund supports businesses that have suffered significant losses due to the pandemic, including businesses legally allowed to operate but restricted in their ability to generate revenue, but have previously fallen between the cracks in terms of government support.
3. Licensed Hospitality Venue Fund
Businesses that have previously received grants under the Licensed Hospitality Venue Fund or July Extension programs will receive further automatic payments in October.
• $10K for a capacity of 100–499 patrons.
• $20K for a capacity of 500 or more.
More information about all three of these funds can be read in a press release here.
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