New instrument: Bridge the gap financing for artists
On May 28, 2020, the Federal Government announced a new bridge the gap financing measure for self-employed artists. The details will be finalised by the end of June, however the basic requirement remains compulsory insurance with SVS. Key points:
- 1.000 Euro max. per month for 6 months max. (6.000 max. in total) per person
- Uncomplicated calculation method, non-bureaucratic application process
- Processed through the Social Insurance Institution for Commerce and Trade, Freelancers and Farmers (SVS), the lawful service center for artists
- Application submissions as of July 2020
- Attention: emergency funds of Chamber of Commerce (WKO) will be deducted
Improvements to WKO emergency fund for application phase 2
The emergency fund is a funding instrument of the Federal Government, providing self-employed workers and entrepreneurs with support for their personal cost of living during the Corona crisis. On 27 May 2020, improvements to the fund were announced. The appraisal period will be extended once again and there will be a ‘comeback bonus’ of 500 Euros per month. Very small funding amounts will be automatically raised to a minimum of 500 Euros.
- All funding amounts paid in phase 2 that were below 500 Euros because of the 2.000 Euro threshold will be raised to 500 Euros.
Until now, there were subsidies below 500 Euros in cases where own entrepreneurial earnings and/or additional earnings and/or insurance benefits existed with an overall cap of 2.000 Euros.
This raise will be automatic. All eligible and already processed cases will receive an additional payment in the upcoming weeks.
- Introduction of an additional comeback bonus of 500 Euros per appraisal period.
Until now the minimum subsidy was 500 Euros (except in cases as mentioned above). Henceforth, with the adding of the comeback bonus of 500 Euros, there will be no funding sum below 1.000 Euros per month in all eligible cases.
All eligible and already processed cases in phase 2 will receive the comeback bonus as an additional payment.
- The elegibility period will be increased from three to six months, the appraisal period from six to nine months (16 March 2020 – 15 December 2020).
Until now, in a six month period, the three months with the highest income losses could be chosen for funding. As of the new regulation, six of the nine months will be eligible for funding.
- Marginally (self-)employed pensioners will be entitled to apply.
Until now, only those who could present „social insurance based on a self-employed business activity“ at the time of application were eligible for funding. This excluded marginally (self-) employed workers and pensioners. Henceforth, existing social insurance will be the sole criteria, including pensioners.
Emergency Fund for Self-Employed Persons (in German)