COVID-19 Payroll Tax relief measures

by | Apr 7, 2020

The COVID-19 pandemic has created a new way of life, with new challenges constantly emerging for Governments, businesses and households alike.

While much of the recent media attention has been focused on the stimulus and assistance programs being provided by the Federal Governments, the State and Territory Governments have also been busy, announcing various packages to help both businesses and households.

A key measure in the various State and Territory relief packages to help ease the pressure on businesses has been the provision of various forms of Payroll Tax (‘PRT’) relief. Whilst welcome, these PRT measures can be confusing given the lack of uniformity between the measures announced by the different States and Territories.

To assist with cutting through the copious amounts of information out there and to provide some clarity, we have compiled the below high-level tabular summary of the various measures and requirements, based on information available as at 13 April 2020. Click the button below to view.

Note: Readers should only use the table as a starting point of their research and, especially, should seek further information/assistance to confirm their eligibility and the application of the measures to their circumstances. This is of particular relevance as the States and Territories are constantly refining, updating and adding to their measures.

In addition to measures outlined in the table, it is also worth noting that both Victoria and New South Wales have also announced that certain small businesses may be able to access $10,000 grants. In essence, businesses may be eligible for the grant where they:

  • are based in the relevant State;
  • employ staff (between 1 and 19 for NSW);
  • have turnover of more than $75,000;
  • have an ABN by 16 March 2020 for Victoria or 1 March 2020 for NSW;
  • have payroll for 2019-20 below the relevant PRT thresholds – $650,000 for Victoria and $900,000 for NSW; and
  • are highly impacted by the COVID-19 directions for businesses.

Further information can be found here for the Victorian Grant and here for the NSW Grant.

 

This article provides a general summary of the subject covered and cannot be relied upon in relation to any specific instance. Webb Martin Consulting Pty Ltd and any person connected with its production disclaim any liability in connection with any use. It is not intended to be, nor should it be relied upon as, a substitute for professional advice.

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