Austria is getting through the crisis better than expected, says Finance Minister Magnus Brunner (ÖVP). “On the one hand, this is shown by the economic forecasts and, most recently, by the annual success of budget implementation.” An important tool for companies is the cancellation bonus. “With the loss bonus, we provide quick and targeted help when there are high sales losses. The fact that we have already been able to pay out more than 204 million euros for the cancellation bous III, which has been possible to apply for since December, shows how efficiently this aid tool is set up.”
You can apply for the cancellation bonus III if there is a drop in sales of at least 40 percent compared to the same month in 2020. Depending on the cost structure of the industry, a replacement rate of 10 to 40 percent comes into play. The 204 million euros paid out so far have been reimbursed for the months of November and December. For almost 40,000 approved applications, there was an average default bonus of around 5,100 euros.
On February 10th, the possibility to apply for the cancellation bonus III for January starts. “We will continue to provide help where necessary to secure businesses and jobs,” assures the minister.
The cancellation bonus III was reintroduced for the period from November 2021 to March 2022 and the maximum amount is 2.3 million euros (instead of the previous 1.8 million). It has been possible to apply for it since December 10, 2021 – the application period for November ends on March 9, 2022.
Since the beginning of the pandemic, more than 3.7 billion euros in default bonuses have been paid out to almost 600,000 applicants. The average withdrawal time is seven days.