Support for small and medium businesses
The WA Government is investing $114 million to support small and medium businesses, including:
- a one-off $2,500 credit on electricity bills for small businesses
- waiving licence fees for businesses in industries such as hospitality, tourism, retail and building trades. Liquor licence renewal fees for 2020 will also be waived, and refunds provided to businesses that have already paid
- increasing the payroll tax exemption threshold to $1 million from 1 July 2020
- providing a one-off grant of $17,500 to businesses with a reconciled 2018-19 Australia-wide payroll of between $1 million and $4 million
- waiving payroll tax for four months between 1 March and 30 June 2020 for businesses with an Australia-wide payroll of less than $7.5 million
- waiving rent for small businesses in WA Government-owned buildings until 30 September 2020
- no utility disconnections or charging of interest on deferred electricity payments
- alternative tax payment arrangements
- waiving late payment penalties for payroll tax, transfer duty, landholder duty, vehicle licence duty or land tax.
For more information see the support for small businesses in response to COVID-19 fact sheet
The State Government has allocated $100 million for land tax relief grants to be paid to commercial landlords.
To be eligible, commercial landlords must provide rent relief that equates to a minimum of three months’ rent 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.
This package will provide targeted financial assistance to encourage landlords to negotiate reductions in rent for small businesses.
The commercial rent relief grants will be administered through the Small Business Development Corporation (SBDC), with applications opening May 1, 2020.
For more information on eligibility criteria and how to apply, visit www.smallbusiness.wa.gov.au
Please do not hesitate to contact Brealey Quill Kenny, Canning Vale should you have any queries with the above on 9256 2777.