QLD State Government’s COVID-19 Stimulus Package – What you need to know

*This page was last updated on 18 March. For more information, click here.

The centrepiece of the Queensland Government’s stimulus package is a $1.2 bn investment in additional health system capacity to expand clinics, emergency and acute care departments and regional aeromedical services.

From a small to medium business perspective, the key tax and revenue measures are: stimulus package

The establishment of a $500m concessional loan facility, comprising loans of up to $250,000 to eligible businesses. These loans will come with an initial 12-month interest-free period, to assist businesses to retain staff during the downturn.
Businesses who pay $6.5m or less in group Australian taxable wages will be eligible for:
- a refund of their Queensland payroll tax for two months;
- a waiver of payroll tax for the next three months; and
- a deferral of the payment of the payroll tax for the remainder of the 2020 calendar year until 14 January 2021.

Businesses with group Australian taxable wages in excess of $6.5m who are “directly or indirectly affected” by COVID-19 can apply for:
- a refund of their Queensland payroll tax for two months; and
- a deferral of the payment of the payroll tax for the remainder of the 2020 calendar year until 14 January 2021.
There are two separate applications form that must be completed to access these concessions, with the application for the refund and waiver measures closing on 31 May 2020.
The waiver of liquor licencing fees for venues that have had to suspend trading and giving sole traders, small and medium businesses a $500 rebate on their power bill for this year.

RSM will continue to keep you informed of any further announcements of stimulus and support measures by State and Federal Governments.