The Australian states of Queensland, New South Wales, and Western Australia announced economic stimulus and tax relief measures in direct response to COVID-19.
In this report, $ = Australian dollars.
The Queensland government on 17 March 2020 announced a $500 million concessional loan facility comprising loans of up to $250,000 with an initial 12-month interest-free period for businesses to retain staff. This is in addition to measures announced earlier this month that allow small and medium Queensland businesses affected by the coronavirus outbreak to defer their payroll tax payment for six months under a new deferral measure.
Further details on how to apply for the 12-month interest-free loans are expected to be announced soon.
More information on Queensland’s latest announcement can be found on the Queensland government website.
The New South Wales government announced on 17 March 2020 a $2.3 billion economic stimulus package and health funding that includes payroll tax cuts and waivers of certain fees.
The measures include:
More information on New South Wales’ measures can be found on the NSW government website.
The Western Australia government on 16 March 2020 announced a $607 million stimulus package to support households and small businesses that includes payroll tax relief.
The measures include:
More information on Western Australia’s measures can be found on the WA government website.
The Tasmanian government released details of a $420 million economic stimulus and support package, that includes payroll tax waivers, in response to COVID-19.
The first stage of the plan aimed at supporting jobs and business in Tasmania includes:
More information on the announcement can be found on the Tasmanian government’s website.
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