While in my last blog, I did tout to "always adapt", I was not referring to Business Victoria adapting (changing) the program.
The changes made do not impact those who have already registered and followed the process, but instead, annoyingly, have made the program more accessible and, for some, voided certain business decisions made.
The "new" at a very high-level:
- no longer need to register before purchase
- open up to those not registered for GST
- open up to any eligible purchase (supplier) made after 15 November 2020
- program extended to 30 June 2021
The changes in effect mean that you can get a rebate on any purchase made from a listed supplier after 15 November 2020 regardless of whether or not you had heard about the program.
I have revisited our original blog, removing irrelevant info or noting changes in bold.
TELL ME WHAT I NEED TO KNOW
- support to build digital capacity
- $1,200 rebate – equivalent to “at least” 12 months
- available for new and upgrades to existing tools
- free training and workshops run by Business Victoria
- closes 30 June 2021, or until funds exhausted
The need to pre-register no longer applies. You only need to check your eligibility (ABN Checker), trial and apply.
Once you provide evidence of purchase, use said purchase for six weeks. The rebate will be received as a tax-free lump sum of $1,200.
This will only be paid after product purchase and only from a listed supplier.
AM I ELIGIBLE?
Let's check the list:
- held ABN before 13 September 2019 (yes, over a year ago)
- sole trader, micro business or small business
- operate in Victoria
- new customer to product or substantially upgrading
- pay for subscription yourself (not through an advisor)
- one rebate per ABN
- TRIAL - sign up for product trials, have a play
- PURCHASE - commit, purchase product
- PROVE - apply for rebate, use for six weeks, get rebate
- PARTY - have a beer
After you purchase the product, you apply for the rebate, then after six weeks you'll be contacted to confirm "continued use'. The rebate will then be paid within ten working days.
- add a shop to your website
- dump MYOB, jump onto Xero
- change your POS to Square
- install Mr Yum
Given the structure of the rebate, $1,200 could give you 12-18 months of Xero or indirectly, pay for Xero for a few months and support from your favourite accounts.
DIGITAL PRODUCT SUPPLIERS
The rebate is available for a select number of suppliers. This list will be updated at the end of this month to 20-25 suppliers.
- Mr Yum
New providers added in January 2021:
- Australian Good Food Guide — food and beverage
- Ecwid Inc. — end-to-end retail
- Intuit Australia (QuickBooks) — accounting
- Lawpath — legal services
- Reckon Limited — accounting
- ServiceM8 — trades job management
- Trade Trak — trades job management
- Victorian Automobile Chamber of Commerce (VACC) — automotive services
WANT TO KNOW MORE
Full details and registrations are available here