Payroll tax refund delivers $50 million to Queensland businesses
The Palaszczuk Government’s payroll tax refund initiative for businesses hit by COVID-19 has already seen more than $50 million land in the bank accounts of more than 2300 Queensland businesses right across the state.
The initiative was announced on Tuesday as part of a $4 billion in measures to support Queenslanders’ health, their jobs and businesses.
Deputy Premier and Treasurer Jackie Trad said the initial response was a strong start and encouraged other affected businesses to put their hands up to get their payroll tax back.
“We know that keeping as many companies operating and as many workers being paid as possible is the best way to nurse our economy through this downturn,” Ms Trad said.
“We designed the refund this way because it’s the quickest way to get back into the hands of small business owners.”
“The feedback we’re getting from businesses is that the process is straightforward, and just as importantly, it’s delivering for them.
“What we want to see now are more businesses getting online and getting money back – because we know that they need support now, not in a week or a month.”
Minister for Employment and Small Business Shannon Fentiman said she was pleased to see so many businesses were able to benefit from the payroll tax refund during the COVID-19 crisis.
“We want to continue to support our businesses to stay open and bounce back once the economy recovers,” Ms Fentiman said.
“Our payroll tax refund is all about keeping Queenslanders in jobs and assisting our local business owners during this crisis.”
The Chamber of Commerce and Industry Queensland’s General Manager of Advocacy and Policy Amanda Rohan said this immediate access to finance relief is what businesses need to try and keep their doors open.
“We know businesses are currently overwhelmed as they deal with these unfolding and challenging conditions and financial strain is causing a lot of stress,” Ms Rohan said.
“We encourage businesses to submitting their applications to have their payroll tax refunded as soon as possible, to help will alleviate some of that strain and enable them to plan their next moves.”
In addition to the refunds, QRIDA had received more than 12,000 expressions of interest for the Palaszczuk Government’s interest free loans for COVID-19 impacted businesses announced last week.
A full list of support for Queensland businesses can be found at business.qld.gov.au
Media Release – 28th March 2020
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