$1 billion relief package for Western Australian’s

17th April 2020

The WA government has delivered a $1 billion relief package to support small to medium (SME) sized businesses and households.

Several initiatives could prove helpful to WA’s self-employed. These include:

 

  • Payroll tax is being waived for four months between March 1 and June 30, 2020, for SME’s with Australia-wide annual wages of less than $7.5 million in 2019-20. This waiver replaces the payroll tax deferral that had previously been announced.
  • $100.4 million has been allocated to waive a range of licence fees for SME’s impacted by COVID-19 for the next 12 months. This includes licences for building services, plumbers and electricians, tourism businesses, taxi booking service authorisation fees, settlement agent licence fees and other statutory planning fees. Liquor licence renewal fees for 2020 will be waived and refunds provided to those businesses that have already paid.
  • If your business has been impacted by COVID-19, you can also apply for an interest-free payment arrangement and for late payment penalties for payroll tax, transfer duty, landholder duty, vehicle licence duty or land tax to be waived.
  • No small businesses facing financial difficulty due to COVID-19 will face power or water disconnections due to late payments, and no interest will be charged on deferred bill payments.
  • Electricity bills for small businesses will be reduced, with a one-off $2,500 credit available for Synergy and Horizon Power customers that consume less than 50 megawatt-hours (MWh) per annum. For more information, visit:

 

For more information and resources, please visit www.wa.gov.au

 

The above information is a brief summary only and does not take into account your personal needs and is not a substitute for independent professional advice. We strongly recommend that you speak to your accountant as they will be able to provide you the most suitable advice for your individual circumstance and to ensure that you are also always receiving the most up to date information.