Australia: Deferral of payroll tax for business in certain sectors

Submitted by mmarquez on Tue, 03/24/2020 - 16:43
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premier.tas.gov.au (17.03.2020)

Ministerial Statement COVID-19 Response Measures

(...) "Whilst ensuring that Tasmanian’s health wellbeing and safety is our most important aim we must also ensure that we support Tasmanian jobs and those businesses most affected by the economic impacts we are facing. The Government will take strong action and in the first stage of our economic stimulus plan I can announce there will be:

  • $20 million for the provision of interest free loans to businesses in the hospitality, tourism, seafood and exports sectors. The loans will be available to small businesses with a turnover of less than $5 million for the purpose of purchasing equipment or restructuring business operations and will be interest free for a period of up to three years.
  • To support Tasmanian jobs, the Government will waive payroll tax for the last four months of this financial year for hospitality, tourism and seafood industry businesses during 2020. This will save businesses around $7 million enabling them to keep more Tasmanians employed.
  • Other small to medium businesses with an annual payroll of up to $5 million in Australian wages will be able to apply based on the immediate impact of the virus on their businesses to waive their payroll tax payments for the remaining three months from March to June 2020.  This initiative is costed at up to $9 million."
measures summary

Ministerial Statement COVID-19 Response Measures

(...) "Whilst ensuring that Tasmanian’s health wellbeing and safety is our most important aim we must also ensure that we support Tasmanian jobs and those businesses most affected by the economic impacts we are facing. The Government will take strong action and in the first stage of our economic stimulus plan I can announce there will be:

  • $20 million for the provision of interest free loans to businesses in the hospitality, tourism, seafood and exports sectors. The loans will be available to small businesses with a turnover of less than $5 million for the purpose of purchasing equipment or restructuring business operations and will be interest free for a period of up to three years.
  • To support Tasmanian jobs, the Government will waive payroll tax for the last four months of this financial year for hospitality, tourism and seafood industry businesses during 2020. This will save businesses around $7 million enabling them to keep more Tasmanians employed.
  • Other small to medium businesses with an annual payroll of up to $5 million in Australian wages will be able to apply based on the immediate impact of the virus on their businesses to waive their payroll tax payments for the remaining three months from March to June 2020.  This initiative is costed at up to $9 million."
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Regions / Country
Global challenges
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