State-Based 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.
- 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:
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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