Australian and WA Government cash flow assistance
There are different forms of assistance from both levels of government
Australian Government - boosting cash flow for employers
Eligible businesses and not-for-profit (NFP) organisations who employ staff will receive between $20,000 to $100,000 in cash flow boost amounts by lodging their activity statements up to the month or quarter of September 2020.
The State Government announced a package on 16 March 2020 and a second package on 31 March 2020. The payroll tax waiver in the second package replaced the payroll tax deferral in the first package. The following are the main points from both packages.
- Licence fees, including plumbers licence fees, waived for 12 months. In July, the Government clarified that the waiving of licensing-related fees for a 12 month period is limited to single-year payments.
- A one-off grant of $17,500 for business that pay payroll tax and have a payroll between $1 million and $4 million.
- $1 million payroll tax threshold brought forward by six months to 1 July 2020.
- Payroll tax waived from 1 March 2020 to 30 June 2020 for businesses with Australia-wide annual wages less than $7.5 million in 2019-20.
Small and medium-sized businesses affected by COVID-19 can now apply to defer payment of their 2019-20 payroll tax until July 21, 2020.
- A one-off $2,500 credit, to be allocated from 1 May 2020, for Synergy and Horizon Power customers that consume less than 50 megawatt hours a year.
- Affected business can apply for interest-free payment arrangements and for waiver of late payment penalties for payroll tax, transfer duty, landholder duty, vehicle licence duty or land tax.
- No disconnections of electricity or water for late payments by affected businesses.
- No interest on deferred bill payments for Synergy or Horizon Power customers that consume up to 50 megawatt hours a year.
For more information on the WA Government packages