In an announcement by the West Australian government earlier this week, Small to Medium sized businesses will be receiving a one-off grant which is expected to benefit 7,400 West Australian Businesses.
Business owners will NOT need to apply for the grant, this will be an automatic payment to all qualifying businesses.
So, do you qualify?
Payroll Tax paying businesses must have a payroll between $1 million and $4 million to receive the one-off grant
For employers who were not registered for payroll tax in the 2018 – 19 year, the grant eligibility will be determined on the reconciled 2019-20 Australian taxable wages, with grants paid later in 2020 if eligible.
Other support that is available to SME businesses includes:
- Rent waived for six months for eligible tenants of buildings owned by Government agencies and trading enterprises;
- Other payroll tax relief including
- the payroll tax exemption threshold increase to $1 million brought forward six months to July 1, 2020;
- payments made under the Commonwealth Government’s JobKeeper scheme exempt from payroll tax; and
- waived payroll tax between March 1 2020 and June 30, 2020 for businesses with Australia wide wages of less than $7.5 million;
- A one-off $2,500 electricity credit available for small businesses and charities that consume less than 50 megawatt hours per annum;
- Waiving of licence fees for small businesses. These licence fees relate to trades, commercial fishing, tourism and liquor licence fees for restaurants and bars;
- Land tax grants for commercial landlords who reduce rent for small business tenants impacted by COVID-19;
- Tourism industry grants comprising of the Tourism Recovery Fund and the Tourism Business Survival Grant;
- Wastewater charges waived between May 1, 2020 and August 31, 2020 for businesses with four or more wastewater fixtures; and
- Building Bonus package including:
- $20,000 Building Bonus grant;
- expansion of the existing off-the-plan 75 cent transfer duty rebate to include multi-tier developments under construction and
- social housing investments to build, buy, renovate and maintain social housing across the State.
If you have any questions or concerns regarding the above, please contact our office (08) 6165 4000