WA Small Business Stimulus/Relief Summary

Vivid Partners
Apr
24
2020

In addition to the Federal Government economic stimulus package, Western Australian Government has announced measures to support small business during the COVID-19 pandemic.

Land Tax Assistance for Landlords

The WA Government has launched a $100 million Land Tax Assistance for Landlords program, offering grants to commercial landlords. To be eligible, they must provide rent relief for a minimum of three months and freeze outgoings to small businesses that have suffered at least a 30 per cent reduction in turnover due to COVID-19. Grants equivalent to 25 per cent of the landlord’s land tax bill for 2019-20 for the property in which an eligible tenant is provided relief will be paid to landlords. Applications open on 1 May, in the meantime landlords are invited to register for more info on https://au.openforms.com/Form/c2730016-e6ab-461b-8777-64837d6ca9aa

Residential Rent Relief

The WA Government has announced a package of $30 million for grants up to $2,000 to directly help residential tenants pay their rent if they are suffering hardship. The grants will be available for tenants or sub-tenants who have lost their job, applied to Centrelink for income support, or have less than $10,000 in savings and are paying at lease 25 percent of their rent.

Relief Package for on-demand transport industry

The WA government has announced a $9 million relief package to support the taxi and on-demand transport industry during the coronavirus pandemic which includes:

  • $4.7 million regional taxi industry assistance package, with payments expected to be made in July.
  • $2,500 cash payments to on-demand booking services.
  • Waiving booking services and passenger transport vehicle authorisation fees for one year
  • Postponing the deadline for taxis to install camera surveillance units by one year

 

Rent relief for WA Government commercial Tenants

The WA Government will waive rental payments for small businesses and not-for-profit groups in State Government-owned buildings for six months to help these lease holders respond to the impacts of COVID-19.

Payroll Grant Payments
Grants of $17,500 will automatically be paid by cheque to eligible businesses with payroll between $1 million and $4 million. The $1 million payroll tax threshold will be brought forward by six months to 1 July 2020. Also, payroll tax will be waived for four months for businesses with annual wages under $7.5 million.

 

Other Measures

  • One-off credit on electricity bills for small businesses that consume less than 50MWh per year.
  • Power and water disconnections will not occur and interest will not be charged on deferred payments until 30 September for small businesses facing difficulty due to COVID-19.
  • Affected businesses can apply for interest free payment arrangements and for late payment penalties to be waived for a range of taxes and duties, including payroll tax, transfer duty, landholder duty, vehicle licence duty or land tax.
  • A range of business licence fees have been waived, including liquor licence renewal fees for 2020, which will be waived and refunds given to businesses that have already paid.

Please feel free to contact your trusted advisor at Vivid Partners about how the this stimulus package will affect you.

Vivid Partners
Phone:  08 6270 2876
Email: info@vividpartners.com.au
www.vividpartners.com.au

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