Under the Income Tax Assessment (Eligible State and Territory COVID-19 Economic Recovery Grant Programs) Declaration 2020, Mr Frydenberg declared as tax-free funds received in Victoria under the Alpine Business Fund, the Business Support Fund 3, the Licensed Hospitality Venue Fund, the Melbourne City Recover Fund – Small business reactivation grants, the Outdoor Eating and Entertainment Package and the Sole Trader Support Fund.
The explanatory statement defined the programs given tax-free eligibility as follows:
- Alpine Business Fund – provides direct financial support to alpine businesses impacted by the Coronavirus pandemic and covers service fees owed to Alpine Resort Management Boards
- Business Support Fund 3 – the third round of the Business Support Fund that provides direct financial support to eligible businesses that must stay closed or operate under restrictions until COVID normal
- Licensed Hospitality Venue Fund – provides direct financial support to eligible liquor licensees with hospitality venues impacted by restrictions due to the Coronavirus pandemic
- Melbourne City Recover Fund – Small business reactivation grants – designed to support businesses to trade safely, including through outdoor trading activities, and to help encourage customers back into Melbourne central city
- Outdoor Eating and Entertainment Package – provides direct financial support to eligible businesses to adapt their businesses to outdoor dining and entertainment in order to transition to what the Victorian government considers ‘COVID normal’
- Sole Trader Support Fund – provides direct financial assistance to eligible sole traders who have been impacted by restrictions due to the Coronavirus pandemic
