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Business affected by virus to get relief from payroll tax

business

By Juliano Oliveira

A relief measure for small and medium businesses impacted by the coronavirus outbreak will allow them to postpone their payroll tax payment for six months.

In a bid to repair the Queensland economy, Deputy Premier and Treasurer Jackie Trad has announced an initiative for businesses with an annual Australian wage bill of up to $6.5 million.

The government already announced a $27.25 million package of measures to help businesses on the Gold Coast, in Cairns and across the state.

“Small and medium businesses are especially vulnerable to these external shocks, so today we are giving them the option to defer their payroll tax obligations for six months, backdated to when the travel ban started on 1 February.”

Minister for Employment and Small Business Shannon Fentiman said the support package will be available to small and medium businesses across all sectors.

“The most immediate impact of coronavirus has been on the tourism, export and education sectors,” Ms Fentiman said.

“But we recognise that as the outbreak spreads, its impacts spread as well.”

“That’s why the option of deferring payroll tax payments for six months is being offered across the state to any affected small or medium business.”

“What we need now is the Federal Government to match our initial commitment to industries suffering from these COVID-19 impacts. Together with a co-commitment from the Federal Government, we can buffer these industries right now so that they are keeping people in jobs.”

“We’ve waived fees and charges, we’ve put in support systems to small businesses and all businesses so that they can get through this rough patch so that they can keep people in jobs, and we want the Federal Government to come to the party on this.”

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