State-Based 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.
- 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:
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.
Below are some articles that may interest you:
- JobKeeper Payment: Relief for Employers and Employees
- Are you entitled to the Federal Government Stimulus Package
- Government Stimulus Package for Business
- Government Stimulus Package for Individuals
- Australian Tax Office Relief
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.
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