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.
