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Insights

April 02, 2020

State-Based Stimulus Package Initiatives | Western Australia

Published by:
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James Morris
Stimulus Package Initiatives Western Australia

In addition to the nationwide stimulus, states and territories have also created local business relief packages.  From payroll tax to one-off grants, State Government initiatives for Western Australia are outlined below. (Please click on the links in each section for more information.)

Payroll Tax Threshold Increase

All business who employ staff will see an increase to the payroll tax threshold in 2020-2021 from $950,000 to $1m.

Payroll Tax Deferral

This will allow eligible SMEs who are affected either directly or indirectly by COVID-19 to defer 2019-20 monthly payroll tax payments. They will now be due 21 July 2020.

Eligibility criteria:

  • Businesses with annual Australian taxable wages of less than $7.5m or group wages of less than $7.5m.
  • Current turnover, profit, customers, bookings or contracts that have been directly or indirectly affected by COVID-19.

One-Off Grant to Payroll Tax Paying Businesses

A one-off payment of $17,500 to businesses with annual Australian taxable wages of between $1m and $4m (the same for groups) may be paid from July 2020.

More information on WA initiatives can be found here:

Government of Western Australia: COVID-19 Economic Response

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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