Premier Daniel Andrews and Treasurer Tim Pallas have announced that payroll tax refunds have now hit the bank accounts of 2,700 small businesses, putting $52 million immediately back into the pockets of business owners.
More than 21,000 small businesses have been contacted about their refund, with all eligible businesses who have provided their bank details to get their money from the Victorian Government by the end of next week.
The Government has smashed its target of $750 million in fast-tracked payments of outstanding supplier invoices, with more than $1.1 billion paid to businesses this week—putting more money into the economy to support jobs.
“We’re getting money out the door and into the bank accounts of struggling businesses as quickly as possible,” said Premier Daniel Andrews. “Our hotels and motels are struggling—hiring rooms allows us to support them, as well as enforcing the new quarantine rules to keep Victorians safe.”
Cheques will be in the mail to 12,500 businesses either waiving or refunding their liquor license fees for this year and 64,000 small businesses will have their land tax deferred into the next financial year, helping them cut costs and survive through the impacts of coronavirus.
“We’re getting money out the door and into the bank accounts of struggling businesses as quickly as possible”
— Premier Daniel Andrews
The National Cabinet has also announced new quarantine measures to slow the spread of coronavirus. Most cases of coronavirus in Victoria right now are connected to returning overseas travellers.
Under the new measures, all travellers returning from overseas to Victoria will be placed in enforced quarantine for a self-isolation period of 14 days. The Government has already secured 5,000 hotel rooms to house newly-returned travellers—who will each receive care packages of food and other essentials—and will secure more rooms as needed to support the measures.
Victoria is in discussions with the Australian Defence Force about logistical support including transporting travelers from the airport to accommodation or distributing care packages.
The Government will continue to work closely with business and unions and will announce further support over the coming weeks and months, in consultation with the Commonwealth, as the impacts of the coronavirus evolve.
Treasurer Tim Pallas said: “We’re making sure more Victorian businesses can access payroll tax refunds to help them weather this storm and get through to the other side.”
Minister for Tourism Martin Pakula said the tourism industry has been hit hard by the coronavirus crisis, but it can play a critically important role helping slow the spread of the virus. “This package will help businesses and jobs survive, as we do what’s needed to save lives.”
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Premier @DanielAndrewsMP and Treasurer @timpallas have announced that payroll tax refunds have now hit the bank accounts of 2,700 small businesses, putting $52 million immediately back into the pockets of business owners. #TheIndianSun #Payroll #TaxRefundhttps://t.co/13D4PmF2KE
— The Indian Sun (@The_Indian_Sun) March 31, 2020