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The South Australian Government has announced two stimulus packages pursuant to which it will: 

  • Provide businesses with group Australian taxable wages of up to $4 million to a six-month waiver of payroll tax (for the months between April and September 2020 inclusive).  For businesses with group Australian taxable wages of over $4 million, they will be entitled to a six-month deferral of payroll tax if they can demonstrate a significant impact on their cash flow caused by COVID-19.stimulus package
  • From 1 July 2020, allow individuals and businesses with outstanding land tax quarterly bills for 2019-20 to defer payments for up to six months.
  • For the 2020-21 financial year, increase the existing Land Tax Transition Fund relief from 50% to 100% based on existing relief criteria guidelines.
  • Establish two new funds:
    • the $300 million Business and Jobs Support Fund designed to assist individual businesses and industries facing potential collapse and job losses due to COVID-19; and
    • the $250 million Community and Jobs Support Fund to support community organisations, such as sporting, arts and recreational bodies, non-profit organisations and some other industry sectors, as well as training individuals seeking new skills and employment.
  • Waive liquor licence fees for 2020-21 for those hotels, restaurants, cafes and clubs forced to close as a result of new social distancing restrictions.
  • Provide a once-off boost of $500, and bring forward the 2020-21 ‘Cost of Living Concession’, for households who are receiving the Centrelink JobSeeker Payment.  For eligible homeowners, their 2020-21 payment of $215.10 will now become $715.10, eligible tenants receiving $607.60.
  • Invest in:
    • major new infrastructure maintenance projects, including road and hospital upgrades;
    • new tourism infrastructure; and
    • an expanded Economic and Business Growth Fund to support local industry.

Source 1: www.premier.sa.gov.au/news/media-releases/news/unprecedented-response-and-economic-stimulus-to-drive-sa-jobs,-economy-in-wake-of-bushfires,-coronavirus2

Source 2: https://www.premier.sa.gov.au/news/media-releases/news/$1-billion-stimulus-package-to-save-sa-jobs,-businesses

 

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

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