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April 02, 2020

State-Based Stimulus Package Initiatives | Northern Territory

Stimulus Package Initiatives Northern Territory

In addition to the nationwide packages, states and territories have also created local business relief packages. From business improvement grants to payroll tax and more, State Government initiatives for Northern Territory are outlined below. (Please click on the links below for more information.)

Business Improvement Grant

NT enterprise who employ NT residents will have grants made available for businesses to make permanent physical improvements. A $10,000 payment followed by an additional $10,000 for businesses who contribute $10,000 of their own funds. Registrations are available from 30 March 2020.

Immediate Work Grant

NT enterprise or not for profit who employ NT residents will have access to grants of up to $100,000 to make permanent physical improvements to land or buildings. An initial payment of $50,000 followed by co-contribution for every dollar spent by businesses to a maximum of $100,000 in contributions.

Business registrations are available from 30 March 2020 and not-for-profit registrations from 20 April 2020.

Payroll Tax Exemption

Businesses with wages paid to a NT resident are eligible for a temporary payroll tax exemption. AN extension to the payroll tax exemption scheme is available from 1 July 2021 for eligible businesses.

Additional Measures

  • Support for local tourism, hospitality and retail operators;
  • Fast tracked infrastructure program;
  • Small business champion support; and
  • Freeze on increases to government fees and charges.

More information on NT initiatives can be found here:

Factsheet: Business Improvement Grant

Factsheet: Immediate Work Grant

Northern Territory Government: Payroll Tax

Northern Territory Government: Jobs Rescue and Recovery

Want to know more?

With the equity markets and Government support packages frequently changing, we are continually updating and creating new tools and information for you. To review the latest materials on COVID-19, please click here. This page will be regularly updated, so please check back in from time to time.

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Supporting you through the changes. From making the most of the stimulus initiatives, through to managing the risks associated with the impact of the Coronavirus, the Modoras team is here to help you build a resilient business. Make well-informed business decisions; contact us on 1300 888 803 book a catch up with a Modoras professional.

IMPORTANT INFORMATION: This blog has been prepared by Modoras Accounting (QLD) Pty. Ltd. ABN 81 601 145 215. The information and opinions contained in this blog is general information only and is not intended to represent specific personal advice (Accounting, taxation, financial, insurance or credit). No individuals’ personal circumstances have been taken into consideration for the preparation of this material. The information and opinions herein do not constitute any recommendation to purchase, sell or hold any particular financial product. Modoras Accounting (QLD) Pty. Ltd. recommends that no financial product or financial service be acquired or disposed of or financial strategy adopted without you first obtaining professional personal financial advice suitable and appropriate to your own personal needs, objectives, goals and circumstances. Information, forecasts and opinions contained in this blog can change without notice. Modoras Accounting (QLD) Pty. Ltd. does not guarantee the accuracy of the information at any particular time. Although care has been exercised in compiling the information contained within, Modoras Accounting (QLD) Pty. Ltd. does not warrant that the articles within are free from errors, inaccuracies or omissions. To the extent permissible by law, neither Modoras Accounting (QLD) Pty. Ltd. nor its employees, representatives or agents (including associated and affiliated companies) accept liability for loss or damages incurred as a result of a person acting in reliance of this publication. Liability limited by a scheme approved under Professional Standards Legislation.

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