VICTORIAN GOVERNMENT ASSISTANCE
Economic Survival Package To Support Businesses And Jobs
As part of the package, the Government will provide full payroll tax refunds for the 2019-20 financial year to small and medium-sized businesses with payroll of less than $3 million.
Payments will start flowing from March 23 onwards.
The same businesses will also be able to defer any payroll tax for the first three months of the 2020/21 financial year until 1 January 2021.
Businesses participating in the JobKeeper scheme in Victoria will be exempt from payroll tax and the WorkCover premium on payments to their employees if their staff are currently stood down.
Commercial tenants in government buildings can apply for rent relief – a move private landlords are also being encouraged to undertake – and 2020 land tax payments will be deferred for eligible small businesses.
Renewable liquor licence fees for 2020 will be waived. Businesses that have already paid will be reimbursed.
Landowners that have at least one non-residential property and total taxable landholdings below $1 million have the option of deferring their 2020 land tax payment until after 31 December 2020. The State Revenue Office will contact all taxpayers who are eligible for this deferral.
The Government will establish a $500 million Working for Victoria Fund in consultation with the Victorian Council of Social Services and Victorian Trades Hall Council. The fund will help workers who have lost their jobs find new opportunities, including work cleaning public infrastructure or delivering food – providing vital contributions to our state’s response to the pandemic and affording those Victorians security when its needed most.
The Government will also facilitate job matching to help Victorians find short-term or casual roles.
All outstanding supplier invoices will be paid by the government within five business days – releasing up to $750 million into the economy earlier. The private sector is urged to do the same where possible.
The government will also work directly with commercial tenants in government buildings who can apply for rent relief. Private landlords are also being encouraged to provide rent relief or holidays to help businesses.
The Victorian Government will bring legislation to Parliament in late-April to support tenants and landlords through the coronavirus pandemic by reforming commercial tenancy laws.
These include introducing a temporary ban on evictions, pausing rental increases for six months, and providing land tax relief for landlords and rent relief for tenants experiencing financial hardship.
To encourage landlords to do the right thing by tenants, the government will provide $420 million in land tax relief. If a landlord provides tenants impacted by coronavirus with rent relief, they will be eligible for a 25 per cent discount on their land tax, while any remaining land tax can be deferred until March 2021.
Businesses are eligible for these measures if they have an annual turnover under $50 million per year and have experienced more than a 30 per cent reduction in turnover due to coronavirus.
The Victorian Government has established a mediation service through the Victorian Small Business Commission (VSBC) to help small and medium business tenants and landlords reach a fair agreement in rent disputes arising as a result of coronavirus, and is part of the relief package.