Queensland Government’s $4 Billion Plan.

The Queensland Government has released a $4 billion relief package to support households, businesses and the health sector.

Premier Annastacia Palaszczuk has announced the following initiatives that are available to Queensland Businesses impacted by the coronavirus pandemic.

Queensland Payroll Tax Relief

To be eligible for the full payroll tax relief package your business must employ and be required to pay payroll tax with total Australian taxable wages of $6.5m or less.

Eligible businesses will be entitled to the following relief measures:

  • refunds of payroll tax for 2 months
  • a payroll tax holiday for 3 months
  • deferral of paying payroll tax for the 2020 calendar year.

The State Government will email employers to notify them of the relief package. If you do not receive an email, or you are unsure about your eligibility, you can complete the refund/holiday application form online.

If you are an employer who pays more than $6.5m in Australian taxable wages and have been negatively affected by coronavirus, you can apply for a:

  • deferral of payroll tax for the 2020 calendar year
  • refund of your payroll tax for 2 months.

A business is directly or indirectly affected by coronavirus if their current turnover, profit, customers, bookings, retail sales, supply contracts or other factors are negatively affected compared with normal operating conditions.

Business Job Support Loans up to $250,000

The Queensland Government will create a new $500m loan facility to support workers in businesses affected by coronavirus. Loans of up to $250,000 will be offered and be interest free for the first 12 months.

The loan scheme will be administered by the Queensland Rural and Industry Development Authority (QRIDA). Applications for these loans are not yet open, however we recommend that you register your interest via the QRIDA website

Please contact us if you would like to discuss how these announcements apply to your business.  

The information on this website and the links provided are for general information only and should not be taken as constituting professional advice from Hall Browns Accountants. You should consider seeking the appropriate legal, financial, or taxation advice to check how the website information relates to your unique circumstances.

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