The federal government financial stimulus packages in response to COVID-19 have received a lot of publicity (you can see our summary of the 22nd March update here) but state and territory governments have also released their own plans for economic assistance. Clients may be entitled to further economic support so please see below for a summary of the key points of these packages and check the links attached for further information. In addition, your local council may be offering their own assistance package so be sure to check their websites or contact our office at reception@leegreen.com.au to discuss your individual circumstances.
South Australia $1 billion stimulus package
Payroll tax waived for 6 months from April to September 2020 for businesses with payroll up to $4 million
$500 boost for households receiving the Centrelink JobSeeker Payments
New South Wales $2.3 billion stimulus package
Payroll tax waived for 3 months from April to June 2020 for businesses with payroll up to $10 million
$700 million extra funding for NSW health
https://www.treasury.nsw.gov.au/Covid-19Stimulus
Victoria $1.7 billion economic survival and jobs package
Refund of all 2019-20 payroll tax for payroll up to $3 million plus a deferral of payroll tax for July-September 2020 to 1 January 2021
Government will pay all supplier invoices within 5 days
https://www.premier.vic.gov.au/economic-survival-package-to-support-businesses-and-jobs/
Western Australia $607 million stimulus package
One off grant of $17,500 for payroll tax paying businesses with payroll between $1 million and $4 million
$1 million payroll tax threshold brought forward to July 1 2020 plus deferral of 2019-20 payments to 21 July 2020 (by application)
Freeze on household fees and charges such as electricity, water, motor vehicle charges, the emergency services levy and public transport fares
Queensland $4 billion package to support health, jobs, households and Queensland businesses
Refund of two months of payroll tax and deferral of 2019-20 payments to the end of 2020 (by application)
Three month payroll tax holiday for businesses with payroll up to $6.5 million
$500 power bill rebate for businesses consuming less than 100,000 kilowatt hours
https://www.treasury.qld.gov.au/programs-and-policies/covid19-package/
Tasmania $420 million stimulus package
Payroll tax liabilities waived for four months for hospitality, tourism and seafood industry businesses
Payroll tax waived from April to June 2020 for businesses with payroll up to $5 million (upon application, based on the impact of the virus)
Refund of two months of payroll tax and deferral of 2019-20 payments to the end of 2020 (by application)
One-off payments of $250 for individuals or up to $1,000 for families, for pensioners, Health Care Card holders and those on lower incomes who are required to self-isolate
http://www.premier.tas.gov.au/documents/FACT_SHEETS_-_STIMULUS_PACKAGES_Final-V2.0.pdf
NT $65 million Jobs Rescue and Recovery plan and $50 million Small Business Survival Fund
Home Improvement vouchers and Business Improvement grants to make physical improvements to land and/or buildings
Hold on increases to government fees and charges
Immediate survival payments to severely affected businesses of up to $50,000 based on number of employees (by application)
Payroll tax exemption on hiring Territory employees extended to 30 June 2021
https://nt.gov.au/news/2020/economic-stimulus
Australian Capital Territory $137 million Economic Survival Package
Payroll tax waived for 6 months from March to August 2020 for hospitality, creative arts and entertainment industries (by application)
Deferral of 2020-21 payroll tax until 1 July 2022 for payroll up to $10 million (by application)
$750 electricity bill rebate for businesses with usage less than 100 megawatts per year
Freeze on household fees and charges such as ESL and motor vehicle charges, $150 rates rebate and $200 increase to Utilities Concession
https://apps.treasury.act.gov.au/budget/covid-19-economic-survival-package
This information is current at the time of publication 29/3/2020 and further updates may have occurred since that date. Please contact us for the latest information.
