Deed of Variation for VIC small businesses - June 2011

Variation to Policy Guidelines Applying to Interest Rate Subsidies for Small Businesses under the Exceptional Circumstances Provisions of the Rural Adjustment Scheme for declared area in Victoria

This variation is made on the …………………….day of ………………. Two Thousand and Eleven (2011).

By: Commonwealth of Australia ('the Commonwealth')

Issued to: The State of Victoria ('Victoria')

Under: Clause 8 of the Policy Guidelines Applying to Interest Rate Subsidies for Small Businesses under the Exceptional Circumstances Provisions of the Rural Adjustment Scheme for Declared Areas in Victoria (Guidelines for Small Businesses) which was made under clause 6(2) of the Agreement between the Commonwealth and the States and Territories made under the Rural Adjustment Act 1992.

Background

a) This Variation to the Guidelines for Small Businesses gives effect to the Commonwealth Government’s  decision to reduce the net non-business threshold of $750 000 to the partnered homeowner rate of social security allowances.

b) This Variation applies to small businesses in Victoria from 1 July 2011

The Guidelines are Varied as follows:

1. Subclause 4)(a)(v)(b) of the Guidelines for Small Businesses has been amended to read:

(b)”non-business assets, such that the net value of non-business assets must not exceed the partnered homeowner rate of social security allowances; or if an application is received before 30 June 2011 the net value of non-business assets must not exceed $750 000.”

Signed for and on behalf of the Commonwealth of Australia by a duly authorised representative:

Signature of witness
Name of witness (print)

Signature of authorised representative
Name of authorised representative (print)

Schedule 1