Covid-19 – Small Business Relief

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As a result of the Covid-19 pandemic the WA Government has declared a State of Emergency for Western Australia, which has led to small business suffering a loss.

The Small Business Development Corporation has created a COVID-19 assistance centre to provide dedicated guidance on available support options, including:

  • information on available stimulus packages and eligibility requirements;
  • advice on preparing businesses to manage impacts;
  • other resources.

To access the service, contact 133 140 (8.30am to 4.30pm weekdays) or email info@smallbusiness.wa.gov.au 

For information on a range of other support they offer, including a series of free online webinars covering key topics relating to small business issues, visit the Small Business Development Corporation website or follow their blog for regular updates on the rapidly changing business environment.

The WA Government is investing $114 million in measures to support WA small and medium businesses including:

One-off grants of $17,500 to small and medium businesses

  • Small and medium businesses whose annual Australian Taxable Wages are between $1 million and $4 million will receive a one-off grant of $17,500 to assist them to manage the impacts of COVID-19.
  • No applications are required. Grants will automatically be paid from July 2020, but there may be delays for taxpayers whose tax status changed during the 2018-19 assessment period or who commenced as new employers in 2018-19 and 2019-20.

Fast-track payroll tax relief for small businesses

  • The payroll tax threshold will be increased to $1 million from 1 July 2020, six months earlier than planned.

Deferred payment 2019-20 payroll tax available to small and medium sized businesses

  • Small and medium sized businesses affected by COVID-19 can apply to defer payment of their 2019-20 payroll tax until 21 July 2020.
  • The deferral is available to employers who pay $7.5 million or less in Australian Taxable Wages and have been directly or indirectly impacted by COVID-19, compared to normal operating conditions.
  • Eligible businesses will be able to defer payment of their 2019-20 payroll tax until 21 July 2020.

Further information on how to apply for a payroll tax deferral is available on the Department of Finance website.

Tim Hayter, Principal, Mid West Lawyers

This information is general in nature and should not be relied upon as legal advice. Formal legal advice should be sought for your particular circumstances.