VICTORIA – Payroll Tax Deferral & Additional Funding to Universities
- Universities to be given more time to pay the existing payroll tax deferrals granted in 2020.
- A further deferral for 2021-22 will also be granted.
- The above-deferred payments are to be paid in 2 installments in 2024.
TASMANIA – Increased Business Support Package
- The existing Business Support Package is increased from $20 Million to $50 Million.
- Businesses are eligible for grants up to $50K across 2 funding rounds.
- In addition to the above, relief worth $20 Million will be provided in the form of waiver of fees, payroll tax, and vehicle registration, etc.
SOUTH AUSTRALIA – COVID 19 Support Measures
| Grant | Eligibility Criteria |
| Tourism & Hospitality Support Grant |
a. Businesses in the tourism & hospitality sectors who have already received the ‘Additional Business Support Grant’ are eligible. b. The amount of grant ranges from $1K to $2K depending on the turnover. |
| Business Hardship Grant |
a. $6K for employing businesses with annual payroll < $10 Million. b. $2K for non – employing businesses who have experienced a 50% reduction in turnover during the eligible period and haven’t been eligible for previous grant. |
| Major Events Support Grant |
a. Up to $100K for large canceled or postponed events where the attendees are expected to be > 10K. |
ACT – COVID 19 Support Measures
| Grant | Eligibility Criteria |
| Business Grant Extension |
a. $10K for employing businesses. b. $3,750 for non – employing businesses. c. Eligible for businesses significantly impacted by health restrictions. |
| Tourism, Accommodation provider, Arts & Events and Hospitality Grant |
a. One off grant with amount determined based on the turnover. |
QLD & NSW Border – COVID 19 Business Support Measures
| Grant | Eligibility Criteria |
| Tourism & Hospitality Sector Hardship Program |
a. One off grant of $15K, $25K & $50K for small, medium & large employing business. b. To be eligible, the businesses must have experienced a turnover reduction of at least 70% for at least 7 consecutive days between 1st July 2021 and 30th September 2021. |
| Hardship Scheme |
a. One off grant of $5K for employing businesses. b. One of grant of $1K for non – employing sole traders in the event of extended border closure. |
Income in disguise as Gifts/Loans
- The ATO has issued a taxpayer alert expressing concerns where Australian resident taxpayers fail to declare offshore Capital Gains in their Australian Income Tax Return.
- The ATO is keen on using its exchange of information powers to gather information from other countries.
