The Victorian Government has today announced that it will provide a further $491 million in tax relief in a new package to support Victorian businesses, workers and families through the coronavirus crisis.
In further efforts to save businesses, the Victorian Government will be freezing a host of fees, charges and levies to help reduce financial burden.
Treasurer Tim Pallas has announced 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.
This means the $1,500 fortnightly payment paid to staff who are currently stood down will be free from all state government taxes and charges – meaning more money in the pockets of businesses, and more incentive to keep workers on throughout the crisis.
Payments above a part-time employee’s usual salary, due to JobKeeper being a minimum $1500 fortnightly payment, will also be exempt from payroll tax and the WorkCover premium – meaning businesses are not paying more to keep their staff on due to the scheme.
The Government will also freeze all fees and fines that were due to be increased in July at current levels – including car registration, traffic infringements, court-imposed penalties and permit fees. The Fire Services Property Levy paid by all Victorian households will also be frozen at this year’s collection level.
Please contact us at MGR on (03) 5443 888 or firstname.lastname@example.org if you would like to discuss this new package and how it could impact your business.