Applications open for two categories of coronavirus assistance
With effect from today (16 August), applications are now open for two categories of coronavirus assistance for the month of July 2021. The so-called 'turnover loss bonus II' has been revised and extended to the end of September, while loss compensation has been extended until the end of the year.
"For all businesses that, despite the economic recovery of the past few months, are continuing to suffer from the economic consequences of the coronavirus pandemic, applications are open from today for turnover loss bonus and loss compensation, with revised terms and conditions. Through this, we are continuing to give a helping hand to those businesses that need it," says Finance Minister Gernot Blümel.
In a change from the previous turnover loss bonus, as with turnover compensation II for indirectly-affected companies during lockdown, turnover loss bonus II will be calculated differently from sector to sector and will depend on the amount of lost turnover. However, in any event, it will be a minimum of EUR 100 and a maximum of EUR 80 000 per calendar month. In addition, the amount of turnover loss bonus will be capped to prevent the total of turnover loss bonus II and short-time working assistance from being higher than comparative turnover for the same calendar month in 2019. The application deadline for turnover loss bonus II expires in mid November.
Also from today, applications will be opening for the first instalment of an extended and revised loss compensation. For this, up to six consecutive months may be selected provided that, in all of those months, there has been a loss in turnover of at least 50 % as compared with the same month in 2019. It is irrelevant whether an application has been made for loss compensation prior to the extension, i.e. for assessment periods before July 2021. As a result, a 'time gap' between products will not prejudice any grant application. Loss compensation will be paid out in two instalments, each of which must be applied for separately. Under the first instalment, applications may be made and granted on 70 % of anticipated loss compensation. The second instalment basically covers the remaining amount of 30 %, but here, any adjustments must be incorporated. The application period for the first instalment of loss compensation runs until 31 December 2021, and then, with effect from 1 January 2022, with the second instalment, applications can be made for the total of loss compensation. The application period for the second instalment and thus also the extended loss compensation ends on 30 June 2022.
- To date (up to 11 August), since November 2020 EUR 2.7 billion has been paid out to over 400 000 applicants through the turnover loss bonus. On average, each applicant has received around EUR 6 654.
- With loss compensation, as at 11 August EUR 266 000 had been paid out to 675 applicants. Here, each applicant received an average of EUR 400 000.