Victorian Flood Relief
The unprecedented flooding crisis experienced last Friday by individuals and businesses throughout Victoria is devastating. The challenges are ongoing for many but the strength of support, particularly in the thoroughbred breeding and racing community, is Group 1.
Stable Financial would like to help in a small way by providing information that may assist those affected from a financial standpoint. Both the Australian and Victorian Government have announced funding packages to assist those impacted by the Victorian floods in October 2022.
For Individuals
- Disaster Recovery Payment
– serious injuries/deaths/missing family members/extensive damage to personal home
(More info and guidelines can be found here: https://www.servicesaustralia.gov.au/victorian-floods-october-2022-australian-government-disaster-recovery-payment)
- Disaster Recovery Allowance
– loss of personal income as a direct result of floods and earn less than the average Australian wage of $1,737.10 per week
(More info and guidelines can be found here: https://www.servicesaustralia.gov.au/victorian-floods-october-2022-disaster-recovery-allowance)
For Businesses (excluding Primary Producers)
- Small Business Immediate Flood Relief Program
– $5,000 one off payment for significant damage
(More info and guidelines can be found here: https://business.vic.gov.au/__data/assets/pdf_file/0016/2112424/Small-Business-Immediate-Flood-Relief-Program-Guidelines.pdf)
For Primary Producers
- Primary Producer Flood Clean Up and Relief Grant
– $10,000 one off payment for direct impact of floods
– covers activities such as the removal/disposal of debris and injured/deceased livestock, replacing or repairing essential equipment, fixing and replacing fencing, buying fodder, water and water storage, salvaging damaged crops, grain or feed, and hiring or purchasing materials to clean up a property or equipment
– additional supporting documentation is required to be submitted with the application, which is submitted through Rural Finance
(More info and guidelines can be found here: https://www.ruralfinance.com.au/industry-programs/victorian-primary-producer-flood-relief-program#flood) - Primary Producer Transport Support Program
– claim up to 50% of transport costs up to a total of $15,000 for the transport of emergency fodder or stock drinking water, and moving stock to agistment/sale/slaughter due to flooding
– to claim this support, you can use the same application form as the Flood Clean Up and Relief Grant
(More info and guidelines can be found here: https://www.ruralfinance.com.au/industry-programs/victorian-primary-producer-flood-relief-program#flood) - Primary Producer Concessional Loans
– eligible to apply for concessional loans of up to $250,000 to restore or replace damaged assets
(More info can be found here: https://www.ruralfinance.com.au/industry-programs/victorian-primary-producer-flood-recovery-concessional-loans)
If you have any questions or require assistance with the Government funding application process, please feel free to reach out to the team at Stable Financial.