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Support for Businesses - QLD

The Queensland (QLD) Government has announced measures to support businesses impacted by COVID-19. Below is a summary of each measure.

The information below is current as of 17 April 2020 and is provided for general guidance only. The information contained in this document is not specific to any individual or business, and should not be relied upon. You should obtain independent professional advice to ensure that any information is relevant to your circumstances.

Payroll tax relief
Small and medium businesses with a payroll of $6.5M or less will be eligible for:

  • A two-month refund of payroll tax
  • A three-month payroll tax holiday
  • A deferral all payroll tax payments for the rest of 2020.

Larger businesses with a payroll over $6.5M affected by COVID-19 will be eligible for:

  • A two-month payroll tax refund
  • A deferral of all payroll tax payments extended for all of 2020.

For more information visit Business QLD: Coronavirus tax relief.

Job Support Loan Scheme
Businesses and not-for-profits can apply for a loan of up to $250,000 to assist with carry-on expenses, such as wages, rent, rates and other related expenses. Loans are low interest with a 10-year term. No interest or repayments are charged in the first year, and interest-only payments are charged for the next two years. You can find out more information and how to apply.

Rebates and fee waivers
Liquor and Gaming: 2020-21 licence fees will be waived, pubs and clubs will receive a three-month deferral on gaming taxes, and applications can be made to arrange the sale of leftover stock. Find out more.

Tourism operators: waiver of registration renewal fees for inbound tour operators, waiver of application fees for some variation to liquor licences, waiver of daily fees for activity agreements and permits, rebates to marina charges and passenger levies, and deferral of tourism lease rent payments. Find out more.

Electricity: Small and medium businesses that consume less than 100,00 kilowatt hours will receive a $500 rebate on their electricity bill, and landowners may be eligible for a rebate 2019-20 and deferred payments in 2020-21. Find out more.

Market diversification and resilience grants (MDRG) program
The grants program is available to Queensland agriculture, food, forestry and fishing exporters and supply chain partners to assist with diversifying into new markets (international or interstate).

Grants are available, of up to $7,500 for equipment purchases of $10,000 (ie a grant of 75%), and project grants of up $50,000 are available to support marketing, staff training, new equipment, boat modifications, etc. Applicants must co-invest 50% of the project activities. Find out more.

Creative Arts Assistance
The Individuals Fund designed to build digital skills and creative development is boosted to $500,000 and the closing date extended to 21 April 2020. Increased funds of $2 million for the Queensland Arts Showcase Program. Arts companies currently being funded will have funding extended for a further 12 months. Find out more.

Business support services
Support for small business is available through the Department of Employment, Small Business and Training on 1300 654 687

Rural Financial Counselling is available producers experiencing hardship in Southern QLD on 07 4622 5500 and in North QLD on 07 4652 5669

FOR MORE INFORMATION
You can find further detailed information on the QLD Government website.

For support or to discuss your options about your business needs, you can contact your IBA relationship manager directly or register your interest. We are here to help.