Businesses to benefit through immediate payroll tax refunds. Industry focused package to support large employers and helping people stay employed

Tuesday 24 March, 2020 | By: Faith Jarvis - CCIQ

 

  • Businesses to benefit through immediate payroll tax refunds
  • Industry focussed package to support large employers
  • Helping people stay employed


Businesses across Queensland will feel some immediate financial relief as the Palaszczuk Government finally supplies a stimulus package and it’s about time said the Chamber of Commerce and Industry Queensland (CCIQ).

The State Government’s stimulus support package includes industry assistance in the form of an immediate refund of 2 months payroll tax for all businesses, along with a 3-month payroll waiver for businesses with wages up to $6.5 million.  The previously announced 6-month deferral remains in place , meaning no small business in Queensland will pay payroll tax in 2020.

CCIQ’s General Manager of Advocacy and Policy, Amanda Rohan said the package will mean all employing businesses will benefit - in some way.

 “We have been calling on the Palaszczuk government to support business and we are relieved the Treasurer has listened,” Ms Rohan said.   

“Businesses are desperately trying to stay afloat, and today’s announcement has provided some assurance and certainty of what support is available to help them plan how to manage through this time.  

“Payroll tax is a heavy burden on business, receiving an immediate relief through refund of 2 months payroll tax is great news and will give many businesses a lifeline to allow them to make some plans and try to retain their staff, which they very much want to do.

“The payroll tax support is set to save businesses employing 20 staff an estimated $30,000, this is crucial for businesses as access to cash is what they need.

“For many businesses demand dramatically decreased or stopped over the last week, this immediate relief will help. The state government now needs to ensure it is putting resources behind ensuring the payroll tax rebate hits businesses bank accounts without delay.

“The industry support for large employers is welcomed to cushion those businesses in keeping their staff in jobs, and provide the opportunity to recover quickly, when that time comes.

“The stimulus support for job seekers who are displaced when businesses have closed, is welcomed so that people can access work and stay employed.

“What is missing is support for the 288,000 sole traders who have received limited support through the State government support package,” Ms Rohan said.   

CCIQ is committed to helping Queensland businesses. Our range of member-only services of unlimited access to HR advice, resources including a COVID-19 Employer Guide are available for free. Non-members can join at qldchamber.com.au.

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