As we posted earlier, as part of the Qld government’s first stimulus package, the Premier announced that payroll tax payments would be deferred for 6 months.
On Tuesday 24 March, this was updated and expanded to now include waivers and refunds for many businesses, which have been impacted by COVID-19 (coronavirus) since it struck the state in January 2020.
SMEs with payroll up to $6.5m are eligible for:
- Refund of 2 months of payroll tax
- Payroll tax waived for 3 months
- All payroll tax payments deferred for the remainder of 2020
Large business with payroll over $6.5m are eligible for:
- Refund of 2 months of payroll tax
- Deferral of payroll tax extended from 6 months to include all payroll tax for 2020
The Government states that no Queensland business, which has been impacted by the effects of coronavirus will be required to make payroll tax payments for 2020.
I will post further updates as announcements are released.
Peter Tobin, Tobin Partners Lawyers peter@tobin.net.au 0438 001 80
