Corona aid money – cancellation bonus III: Application possible from Thursday

The default bonus III for January can be applied for from next Thursday (February 10). For the two previous months of November and December, almost 40,000 applications were approved and 204 million euros paid out, the Ministry of Finance announced on Monday.

On average, around 5100 euros were paid per application, and the average payment period was 7 days. Since the beginning of the pandemic, over 3.7 billion euros have been paid out to around 600,000 applicants. The cancellation bonus was reintroduced for November 2021 to March 2022, the maximum limit is 2.3 million euros (instead of the previous 1.8 million euros). The bonus can be requested 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 then comes into play. The fact that we have already been able to pay out over 204 million euros for the cancellation bonus III shows how efficiently this aid tool is set up,” said Finance Minister Magnus Brunner (ÖVP) according to the broadcast.

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