The Queensland Government announced on Tuesday, 17 March a new $500 million loan facility, interest free for the first 12 months, to support Queensland businesses impacted by COVID-19 retain employees and maintain their operations. The $500 million concessional loan facility will comprise low interest loans of up to $250,000 for carry on finance with an initial 12-month interest free period for businesses to retain staff. The Queensland Rural and Industry Development Authority (QRIDA) is responsible for the administration of these concessional loans and is currently taking expressions of interest in the lead up to rolling these loans out as soon as possible.
You may be eligible for one or more of a range of payroll tax relief measures as a result of the impacts of coronavirus (COVID-19). These include: refunds of payroll tax for 2 months a payroll tax holiday for 3 months deferral of paying payroll tax for the 2020 calendar year. Eligibility: If you are an employer (or part of a group of employers) who pays $6.5 million or less in Australian taxable wages, you may receive an email about a: refund of your payroll tax for 2 months payroll tax holiday (i.e. no payroll tax to be paid) for 3 months. You can also apply for a deferral of payroll tax for the 2020 calendar year. (If you have already applied for a deferral, you do not need not reapply – it will be extended.) If you do not receive an email, or you are unsure about your eligibility, complete the refund/holiday application form. If you are an employer (or part of a group of employers) who pays more than $6.5 million in Australian taxable wages and have been negatively affected (directly or indirectly) by coronavirus, you can apply for a: Deferral of payroll tax for the 2020 calendar year (If you have already applied for a deferral, you do not need not reapply – it will be extended.) Refund of your payroll tax for 2 months. A business is directly or indirectly affected by coronavirus if their current turnover, profit, customers, bookings, retail sales, supply contracts or other factors are negatively affected compared with normal operating conditions.
Equipment purchase grants of up to $7,500 (excluding GST) are available to support new equipment purchases up to a maximum cost of $10,000 (excluding GST).Applicants must contribute 25% of the total cost of the new equipment.The Market diversification and resilience grants (MDRG) program will provide the remaining 75% of total costs.For example, if the total equipment cost is $10,000 (excluding GST), the applicant will pay $2,500 and the MDRG program will pay $7,500 (excluding GST).Examples of eligible equipment purchases include, but are not limited to:freezersrefrigeratorsvacuum packaging machinesstorage equipmentfilleting machines.
Project grants of up to $50,000 (excluding GST) will be available to support project activities including, but not limited to:market evaluation studiesmarket visitsstaff trainingnew equipment such as refrigerationboat modifications necessary to meet market requirements.Applicants must co-invest 50% of the total cost of their project activities or equipment purchases and should provide evidence of their contributions both in-kind (e.g. reasonable salary costs for key personnel, freight costs) and cash.Cash contributions must be at least 25% of total project costs.