Victoria – Covid-19 – Small Business relief package
Saturday 21 March 2020
Premier Daniel Andrews and Treasurer Tim Pallas announced a $1.7 billion economic survival and jobs package.
Payroll Tax relief
- Full payroll tax refunds for the 2019-20 financial year to small and medium-sized businesses with payroll of less than $3 million
- Payments will start flowing w/c 23rd March 2020. This assistance is a refund, not a loan.
- The same businesses will also be able to defer any payroll tax for the first three months of the 2020/21 financial year until 1 January 2021
Commercial tenants in Government Buildings
- Commercial tenants in government buildings can apply for rent relief
Land tax relief
- 2020 land tax payments will be deferred for eligible small businesses
5 Day invoice payment – Govt to Small Businesses – driving cash flow
- The Government will pay all outstanding supplier invoices within five business days
Liquor License Fees waived for 2020
$500 million to establish a Business Support Fund.
- The fund will support the hardest hit sectors, including hospitality, tourism, accommodation, arts and entertainment, and retail
Establishment of a $500 million Working for Victoria Fund.
- The fund will help workers who have lost their jobs find new opportunities, including work cleaning public infrastructure or delivering food etc
- The Government will also facilitate job matching to help Victorians find short-term or casual roles