Menu

Covid-19 | Federal & State Governments Stimulus Measures banner.Updated: 29 March 2020

Government Stimulus Measure:

Tasmania Payroll Tax Relief

What is the stimulus/relief?

Tasmanian payroll tax will be waived for businesses in the hospitality, tourism and seafood industries for the last 4 months of the 2019/20 year (March to June 2020).  There is also a waiver of payroll tax for the 3 months April 2020 to June 2020 for other businesses with Australian group wages of up to $5 million annually that can demonstrate that their business is affected by the coronavirus.

What is the aim of this initiative?

This measure is designed to help Tasmanian businesses survive through the Coronavirus pandemic and continue to employ staff where possible.

Who is eligible?

Businesses in the hospitality, tourism and seafood industries will be eligible for the waiver for the last 4 months of the financial year, regardless of wage levels or turnover. Other businesses that have Australian group wages not exceeding $5 million can apply for a waiver for the last 3 months of the financial year, and will need to demonstrate their business has been affected by the Coronavirus.

How do I get it?

Employers in the hospitality, tourism and seafood industries will not be required to lodge payroll tax returns for March, April and May 2020.  They will still need to lodge the Annual Adjustment Return for 2019-20, where a waiver of payroll tax for the months of March, April, May and June 2020 will be applied.

Other businesses with annual wages not exceeding $5 million will need to apply for the 3 month waiver.  Details of the application process has not yet been published at time of writing.

Who should use this stimulus/other considerations?

This stimulus measure will not provide any assistance for businesses with annual taxable wages of less than $1.25 million (as they do not pay payroll tax), or for businesses outside the hospitality, tourism and seafood industries that cannot demonstrate they have been affected by the Coronavirus or have annual wages of over $5 million.

The Tasmania government has announced other non-tax related small business stimulus measures.  More information on these measures and the payroll tax relief can be found at the below links:

https://www.sro.tas.gov.au/payroll-tax/coronavirus

https://www.premier.tas.gov.au/documents/FACT_SHEETS_-_STIMULUS_PACKAGES_Final-V2.0.pdf

Closing comment

The Government is moving quickly and things are changing daily with regards to the response to COVID-19.  

Should you have any queries regarding this measure or any Government measure announced in relation to COVID-19, please contact our office for more information.

If you would like to print this information, please click here for our PDF format.

 

Disclaimer
The information provided in this information sheet does not constitute advice. The information is of a general nature only and does not take into account your individual situation. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you contact Brentnalls SA before making any decision to discuss your particular requirements or circumstances.
 

Our Services

Services that assist in increasing profitability, build value, and protect your wealth.

Accounting & Tax
Business Advisory
Wealth Creation & Preservation

Industry Focus

We are not just your accountant, we are your business advisor, here to support you and your business. We specialise and focus within the following industries:

Brentnalls Agribusiness
Brentnalls Construction
Brentnalls Health

Resources

Our resources provide additional supporting information in the following areas: 

Newsletters
Fact Sheets
Checklists
COVID-19 - Information Sheets
COVID-19 - Brentnalls SA Response

Our Location

255 Port Road
HINDMARSH SA 5007

PO Box 338
Welland SA 5007 

View location map

P: (08) 8241 8444
F: (08) 8241 8488
E: admin@brentnalls-sa.com.au

Connect with us on Facebook. Connect with us on LinkedIn.