A new $4 billion package prepared in response to the COVID 19 crisis will overhaul the State Government’s original plan to simply defer payroll tax requirements. Instead, two months’ worth of payroll tax will be immediately refunded to businesses and the next three months’ worth of payroll tax will be waived.
The package will also include $300 million in relief for Queensland households, including a $200 rebate on power and water charges, on top of $50 asset dividend already announced.
The original six-month payroll tax deferral plan announced earlier this month will instead be in effect from July to December.
The total measures announced today include:
- 2.5 billion for workers and business, with up to $500 million to help workers who lose jobs or income
- $300 million for households, including $200 off utility bills
- $1.2 billion for health
- Two-month refund on payroll tax for small, medium and large businesses
- Three-month payroll tax break
- Six-month payroll tax deferral
- Liquor licensing fees waived for venues forced to close
- Rent relief on state-owned premises
- $500 rebate on power for sole traders and small to medium businesses
Should you want to understand further how these changes will impact you please do not hesitate to contact Brad Ryan on 0421 368 021.