Address: Suite 4, 10-12 Chapel Street Blackburn VIC

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.

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