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Get financial support from the state

27/05/2020

Loss in income under the Austrian Epidemics Act

Many companies complain that the emergency aid from hardship funds, short-time work and bridging loans is too low, comes too late and is associated with too many administrative hurdles.

Companies may be entitled to much more than granted by the state up to now: Companies may be entitled to a compensation of the loss of income in the event of restrictions and closures according to the Austrian Epidemics Act.

It is currently not entirely clear whether and to what extent such applications have a chance of success in case of restrictions imposed due to COVID-19. This will ultimately have to be clarified by the courts or the legislature.

However, the cost of such a application are small in relation to the possible claim based on the actual loss of income. Secure your possible claim now!

The time limit for applications is 6 weeks from the date of the official measure being lifted. For many companies which were allowed to open after 30 April 2020, the relevant application must be filed by 12 June 2020 at the latest.

Thus, there is an urgent need for action!

Fixed-cost subsidy

Since 20 May 2020, applications for fixed cost subsidies may be submitted via "FinanzOnline". 
All companies and entrepreneurs are eligible to apply, regardless of their legal form (!) with headquarters or permanent establishment in Austria and an operational business.

The scope of application is much wider than for hardship funds. Excluded are companies that were already in crisis on 31 September 2019, banks and insurance companies, non-profit organisations and companies owned by the state. 

The amount of the fixed-cost subsidy depends on the loss of revenue:
•    The loss of revenue is calculated by comparing the revenue in the Corona period with the revenue in the corresponding months in 2018 and 2019.
•    Companies that do not have data for the year 2018 or 2019 can also demonstrate their loss of revenue by means of a forecast calculation.
•    The grant is awarded for a maximum of 3 months and is paid in 3 instalments.
•    For fixed-cost subsidies of more than EUR 12,000 a confirmation by a tax advisor/auditor must be obtained. 

Our offer

We file the application for you quickly & efficiently within 3 days at a low flat rate (price on request).

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