Queensland’s Economic Response COVID19
Small Business Grants: Round 2
The Queensland Government has announced from 1 July 2020, a second round of Small Business Grants will open. The available grant amount is a minimum of $2,000 and up to maximum of $10,000 per eligible small or micro business. All applications must be completed online, from 1 July 2020 when the grants open.
Successful applicants from round 1 of the program cannot apply for further funding under round 2. Businesses who applied in the first round but have not heard back yet, or who were unsuccessful, can reapply in this round.
Read this update prepared by our Hall Chadwick Queensland team.
Industry Support Package
An Industry Support Package focused on large and regionally significant businesses to ensure they will be able to scale up and service the community when economic activity improves. For further detail on the Industry Support Package email COVID19ISP@treasury.qld.gov.au
Worker retraining and assistance
$500 million to assist workers and businesses who lose their job or income, including the creation of the Jobs Finder portal. Get to the portal at jobsfinder.qld.gov.au
Support for retail and commercial tenants
$400 million in support for retail and commercial tenants, delivered as land tax relief and payment referrals. Find out more about the Government’s COVID-19 relief measures for tenants and landlords. More at qld.gov.au and business.qld.gov.au
Land Tax Relief
The Qld Government has announced further relief for affected property owners dealing with the impacts of Coronavirus. Eligible Queensland property owners may be able to receive the following land tax relief:
- a land tax rebate reducing land tax liabilities by 25% for eligible properties for the 2019- 20 assessment year;
- a waiver of the 2% land tax foreign surcharge for foreign entities for the 2019-20 assessment year;
- a 3-month deferral of land tax liabilities for the 2020-21 assessment year.
Property owners must contact the Qld Office of State Revenue (OSR) to apply for the land tax rebate.
Read more on eligibility and how to apply here.
Payroll Tax Relief
Employers who pay $6.5 million or less in taxable wages may be eligible for the following payroll tax relief measures:
- Refunds of payroll tax for 2 months
- A payroll tax holiday for 3 months
- Deferral of paying payroll tax for the 2020 calendar year.
Employers who pay $6.5 million or more in taxable wages are not eligible for the 3 month holiday.
Eligible businesses should receive an email from the Office of State Revenue (OSR). You can also apply by completing this form.
Further information can be found business.qld.gov.au
A loan to retain employees and maintain operations.
The loan facility will include low interest loans of up to $250,000 for carry on finance with an initial 12-month interest free period for businesses to retain staff.
To register interest go to qrida.qld.gov.au