Victorian State Government Stimulus Package

Victorian State Government Stimulus Package

On Saturday the 21st March, the Victorian State Government announced a range of measures to assist businesses affected by the covid-19 crisis.  The measures include:

  • Refund of all payroll tax paid by employers from July 2019 to date.  This affects employers who have annual payroll (wages, super, eligible contractors etc) of more than $650,000 to a maximum of $3m.  Employers will need to apply for their refund via PTXpress.
  • Deferring the first three months of payroll tax of the 2020-21 year (ie July, August and September 2020) to after the 1st January 2021
  • Paying up State Government supplier invoices within 5 days
  • Rent relief for commercial tenants in government buildings
  • Establish a $500m Business Support Fund and $500m Working for Victoria Fund to be managed in consultation with industry bodies, trade unions and welfare groups
  • Refunding liquor license fees paid for the 2020 year (typically due on the 31st March)
  • Deferral of land tax for people with at least one non-residential building and total taxable landholdings of less than $1m for the 2020 year to e

Additional measures have been announced on the 30th March, including:

  • Grants of up to $10,000 for eligible small businesses (being those with turnover over $75,000, payroll less than $650,000 and have had their business directly impacted by shutdowns called by the Victorian Government).   Applications are open here.

Please contact our office if you have any queries.

Share this post

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email