What does the Stimulus Package look like in your state: A Comprehensive breakdown

We are all well aware that the Federal Government is providing funding to businesses and those that have been displaced in the workforce due to the impact of COVID-19. Did you know that your state or territory government is also providing assistance?

We have compiled the latest information as on 1st april 2020 on the response of the state governments on the coronavirus information for businesses and individuals.

Queensland – COVID-19 Economic Relief Package

QLD has announced a $4 billion package to support Queenslanders’ health, jobs and businesses. This includes $2.5 billion in industry and worker support packages, $300 million for households, $1.2 billion for health. Here is what it means for businesses and individuals:

For Employers

• Industry Support Package is available for select large businesses to help them tide through and service the community when economic activity improves
• Payroll tax relief to eligible large and small businesses including cash payouts, tax holidays, and deferred payroll tax payments
• Other relief in terms of fixed operating costs such as rent, electricity etc.

For Individuals

•  Up to $500 million to assist workers who have lost their jobs or need reskilling. This includes job-matching and other help to transition into jobs in the industries that are vital to get Queensland through this crisis – such as health care, agriculture, food production, transport, cleaning and mining

Northern Territory – Jobs and Rescue Recovery Package

Northern Territory has announced the Jobs Rescue and Recovery Package to help small businesses navigate the economic impact caused by the coronavirus pandemic. This is specifically targeted at supporting industries such as retail, hospitality, tourism, and entertainment businesses, including beauty parlours and gyms, who have been hit the worst with this economic crisis.

For Employers

• An Immediate Survival Payment of between $2000 and $50,000 to help offset the immediate cost pressures on businesses
• A Rapid Adaption Payment of between $1000 and $5000 to assist businesses make the necessary changes it chooses to help adapt to the new operating environment
• Payroll Tax Exemption when resident Territorians are hired
• Supporting casual workers through the Territory Jobs Hub platform
• Not increasing government fees and charges including electricity
• Supporting businesses with grants to purchase goods and services and/or make improvements on their property

For Individuals

• Supporting casual workers through the Territory Jobs Hub platform
• Supporting homeowners with grants for physical improvements on their property

Full details and Terms and Conditions are available at business.nt.gov.au/recovery.

ACT – Economic Survival Package

The ACT Government has announced an economic survival package which includes injecting $137 million into the local economy to reduce cashflow pressures in the short term for low income households and local small and medium businesses in the industry sectors that have faced the brunt of this economic crisis. They have also announced another package called ‘Homefront’ for Canberra’s artists and creatives.

For Employers

• Rebate on residential rates
• Freeze on government fees and charges including fire and emergency levy, public transport, car registration and parking fees
• Freeze on commercial rates for businesses
• 6-month waiver on payroll tax for selected businesses
• $750 payment to small businesses to help with power bills
• Interest-free deferrals of payroll tax for all businesses up to a payroll threshold of $10 million

For Individuals

• Rental support for those in public housing and one-off payment for those on concession to pay power bills
• As a part of ‘Homefront’, artists will be entitled to receive funding of up to $10,000 per artist for the next 6-9 months to support arts development and the sustainability of their arts practices.

Tasmania – Tasmanian Support & Stimulus Package

Tasmania has announced the Tasmanian Support & Stimulus Package worth a total of about $420 million largely focused on supporting the state’s tourism and hospitality sectors, as well as the fishing industry and construction businesses.

For Employers

• Assistance for Small Business – includes interest free loans, payroll tax waivers, fast tracking of government maintenance programs, improving cash flow, grants to employ apprentices/trainees in selected industries, youth employment scheme, and HR & industrial relations assistance.
• Targeted Industry Assistance – waiving of fees and giving discounts to assist the Tourism, Hospitality & fisheries industries.

For Individuals

• Household Assistance – includes funding to organisations working with those that are self-isolated, relief payments for those in isolation & low incomes and accommodation support. 
• One-off payments of $250 for individuals or up to $1,000 for families, for those who are required by Public Health to self-isolate as a result of the coronavirus.

Western Australia – Economic and Health relief package

The Western Australian government has announced a $1 billion economic and health relief package to support households and small businesses.

For Employers

• Electricity bills for around 95,000 small businesses to be reduced, with a one-off credit of $2500 for Synergy and Horizon Power customers 
• Payroll tax-relief for small businesses and deferment for medium size businesses
• Waiver of licence fees for small and medium‑sized businesses including licences for building services, plumbers and electricians and more.

For Individuals

• Freeze on household fees and charges, especially electricity and water for people experiencing financial hardship due to the coronavirus pandemic.
• People who have become unemployed due to COVID-19 and are eligible for a concession card will receive an upfront $305 credited against their electricity bill
• Households that are directly or indirectly impacted by COVID-19 may also apply for an interest-free payment arrangement and for late payment penalties to be waived for transfer duty, landholder duty, vehicle licence duty or land tax

For more details on this, read the full media statement here.

Victoria - Economic Survival and Jobs Package

The Victorian government has announced a $1.7 bn economic survival package to assist businesses and people during this difficult time.

For Employers

• Small, medium businesses can register their interest for the Business Support Fund
• Payroll tax refunds for small – medium businesses
• Commercial tenants in government buildings can apply for rent relief
• 2020 land tax payments deferred for small businesses

For Individuals

• Displaced workers can register for Working for Victoria Fund, including job matching assistance
• Assistance by the government towards developing new skills or for immediate accreditation critical to commencing work.

Find more details about the package in the official media release here.

NSW - NSW COVID-19 package

New South Wales has announced a stimulus package worth $2.3 billion comprising of economic and health measures.

For Employers

• Payroll tax waivers for business with payrolls up to $10 million for the next three months
• Waiver of fees and charges for small businesses including fees for bars, cafes, restaurants and tradespeople.

For Individuals

• While this is an indirect impact but this will create more job opportunities. Over $250 million will be spent to employ additional cleaning staff for public infrastructure, such as public transport assets, schools and public buildings.

Access complete details of the NSW COVID-19 package here.

South Australia - Jobs Rescue Package

South Australia has announced a $650 million Jobs Rescue Package which includes payroll and land tax relief for businesses across the state.

For Employers

• Business and Jobs Support fund worth $300 million to support individual businesses and industry sectors directly affected by the coronavirus pandemic.
• Community and jobs support worth $250 million to support community organisations, sporting, arts and recreational bodies, and non-profit organisations
• Payroll tax relief of up to 6 months to businesses with a payroll of $6 million
• Land tax relief where businesses can defer outstanding quarterly payments for up to 6 months
• Waiver of fees and charges such as the liquor license fees

For Individuals

• A once-off boost of $500 and the ‘Cost of Living Concession’ for households who are receiving the Centrelink JobSeeker Payment
• Boost in payment from $215.10 to $715.10 for eligible homeowners
• Eligible tenants to receive $607.60.
• Training of South Australians seeking new skills and employment

The government is making announcements almost every day. Visit our News page to stay on top of all the latest updates and news.