The below information should be read in conjunction with your own research and we recommend you seek professional advice specific to your business. Despite our best efforts, we cannot guarantee its accuracy.
So you know about JobKeeper and JobSeeker, but what other support is out there for restaurant businesses suffering during the COVID restrictions?
New South Wales
$10k small business cash flow support
Deferral of payroll tax for business with payrolls over $10 million for up to 6 months
Businesses with payrolls of $10 million or less will receive an additional 3-month deferral to the initial 3-month waiver in the first package.
Businesses whose total grouped Australian wages for the 2019/20 financial year are no more than $10 million will have their annual tax liability reduced by 25% when they lodge their annual reconciliation, which is due on 28 July 2020
For those businesses who lodge and pay monthly and whose total Australian wages will be no more than $10 million for the current financial year, no payment for the months of March, April or May 2020 will be required.
The payroll tax-free threshold limit will be increased from $900,000 to $1 million in 2020-21.
Deferral of gaming tax for clubs, pubs and hotels, and lotteries tax for 6 months, conditional on these funds being used to retain staff.
Deferral of the parking space levy for 6 months
Deferral of rents for 6 months for commercial tenants with less than 20 employees in all Government-owned properties.
Small and medium businesses (payroll up to $6.5 million) will be eligible for a 2-month refund of payroll tax, a 3-month payroll tax holiday and they will also be eligible to defer all payroll tax payments for the rest of 2020.
Large businesses will be eligible for the 2-month payroll tax refund and have their deferral extended for all of 2020.
An Industry Support Package to assist large businesses to ensure they will be able to scale up and service the community when economic activity improves.
Relief for businesses renting government premises
$500 rebate of electricity bills for small and medium businesses that consume less than 100,000 kilowatt hours (automatically applied to bills)
Liquor licensing fees waived for businesses impacted by enforced safety industry shutdowns
The Government also previously announced, in addition to initial payroll tax relief, a new $500 million loan facility, interest-free for the first 12 months, to support businesses to keep Queenslanders in work – comprises of loans of up to $250,000 with an initial 12-month interest free period for businesses to retain staff. Applications are now open.
Full payroll tax refunds for the 2019-20 financial year will be provided to small and medium-sized businesses with payroll of less than $3 million. Eligible businesses must continue to lodge returns but do not need to may further payments. Also be able to defer any payroll tax for the first 3 months of the 2020/21 financial year until 1 January 2021.
Land owners due to pay 2020 land tax 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.
Commercial tenants in government buildings can apply for rent relief. The government is encouraging private landlords to do the same.
Liquor licensing fees for 2020 will be waived for affected venues and small businesses.
$500 million will be provided to establish a Business Support Fund to support the hardest hit sectors, including hospitality, tourism, accommodation, arts and entertainment, and retail.
6-month payroll tax waiver for businesses with Australian grouped wages up to $4 million i.e. no payroll tax payments for the months of April to September 2020. RevenueSA will notify these businesses through Revenue SA online
6-month payroll tax deferral (April to September 2020) for businesses with Australian grouped wages above $4 million on demonstration of significant COVID-19 impacts on cashflow. Apply online
Individuals and businesses paying land tax quarterly in 2019-20 will be able to defer payment of their 3rd and 4th quarter instalments for up to 6 months. No application required – information will be provided with their land tax notices of assessment
For 2020-21, the new Land Tax Transition Fund relief will be increased from 50% to 100% based on existing relief criteria guidelines
Waiver of liquor licence fees for 2020-21 for those hotels, restaurants, cafes and clubs forced to close because of the social distancing restrictions
The payroll tax threshold will be increased to $1 million on 1 July 2020, bringing the increase forward from the planned date of 1 January 2021. The threshold increase will be reflected in Revenue Online when it comes into effect.
Employers, or groups of employers, who pay $7.5 million or less in Australian taxable wages and have been directly or indirectly impacted by COVID-19 will have payroll tax waived for a four month period (between 1 March 2020 to 30 June 2020.
Businesses can apply for an interest-free payment arrangement and for late payment penalties to be waived for payroll tax, transfer duty, landholder duty, vehicle licence duty or land tax.
A one-off grant of $17,500 will be available for employers, or groups of employers, whose annual Australian taxable wages are more than $1 million and up to $4 million. You do not need to apply for the grant. Grants will automatically be paid by cheque from July but there will be delays for taxpayers whose tax status changed in 2018-19 or who became liable for payroll tax during the 2018-19 or 2019-20 assessment year.
A one-off $2,500 electricity bill credit will be available to small businesses and charities that are current customers of Synergy and Horizon Power as of 31 March 2020 and consume less than 50 megawatt hours per annum.
Liquor licence renewal fees for 2020 will be waived and refunds provided for businesses that have already paid.