WA Small Business to receive $17,500 grant and other support

From 20 July 2020, thousands of Western Australian small to medium sized businesses will begin receiving a one-off grant of $17,500 from the WA Government to help them recover from the impacts of COVID-19.

Eligibility

Businesses with a payroll between $1M and $4M that are registered for payroll tax will be eligible for the grant, which is automatically sent to all qualifying businesses.

Eligibility for employers not registered for payroll tax in 2018-2019 will be determined on their reconciled 2019-2020 Australian taxable wages.  With the grants paid after the Annual Payroll Summary has been lodged.

Other Support

• payments made under the Federal Governments JobKeeper scheme exempt from payroll tax;
• the payroll tax exemption threshold increase to $1M brought forward to 1 July 2020;
• payroll tax between 1 March 2020 and 30 June 2020 for business with Australian-wide wages of less than $7.5M is waived;
• a one-off $2,500 electricity credit is available to small business where they consume less than 50 megawatt hours per annum;
• land tax grants for commercial landlords who reduce rent for small business tenants impacted by COVID-19

If you require assistance, or are unsure if your business qualifies, please contact GrowBC - contact@growbc.com.au

Paul Griffiths CA CTA