Stimulus Overview - QLD & NT

Here you’ll find an overview of the stimulus packages recently implemented for the QLD & NT as at 22/05. This will be updated regularly but we’d also recommend seeking advice from your tax advisors on the opportunities available.

QLD Stimulus Overview

Quick way for QLD businesses to check relief on offer:

The Queensland Government has created a Business Assistance Finder to impacted business owners see what financial assistance or relief they may access. Just key in whether you have employees, and how many, and whether you pay payroll tax, and the relief package options for your size of business will be displayed. Try the Business Assistance Finder here.

Qld extends Jobs Support Loans

SMEs who applied for the Queensland Government’s Jobs Support Loan scheme will benefit from an additional $500 million in funding, announced on May 20. The catch is that the additional funding is only for businesses who already submitted their application for assistance and have not yet been processed – no new applications will be received. The aim is to help Queensland SMEs retain employees and maintain their businesses.

Payroll tax:
  • Businesses with grouped Australian taxable wages of less than $6.5 million are entitled to a refund of 2 months of payroll tax and a 3 month payroll tax holiday. The QLD OSR will contact you if you are eligible for the refund.
  • Businesses with grouped Australian taxable wages of more than $6.5 million are also eligible for the payroll tax refund.
  • All businesses may apply for a payroll tax deferral to the end of 2020 (if you have already applied for a deferral, the extension will be updated, a secondary application is not required).
Stamp duty:

$27.25 million “aid package” including:

  • $7 million spending on international tourism promotion;
  • $4.8 million targeted spending for the Tropical Far North and Gold Coast regions;
  • Waiving fishing fees and fees associated with liquor licences;
  • Deferring tourism lease payments;
  • Rebates for marina and jetty fees;
  • Waiver of quota fees for rock lobster and coral trout.
Individual income support:

A new $500 million loan facility to provide loans to Queensland businesses that are interest free for an initial 12 month period. 

NT Stimulus Overview

Tips to manage your small business during crisis:

The Northern Territory Government has created a tips page to help SMEs get through the crisis and recovery phase.

This includes how to review your finances and how to create a business continuity plan.

See their SME tips here.

Stamp duty:

Announced measures include:

  • $20 million Business Improvement Scheme (eligible businesses will receive $10,000);
  • $5 million Business Structural Adjustment package to assist businesses who need to physically adjust to the 100-person rule;
  • $5 million Immediate Works Grants Package for incorporated not-for-profit and community organisations – including clubs – to undertake repairs, renovations and upgrades to their premises/facilities;
  • Freezing Government Fees and Charges and Electricity Prices – all Government fees and charges – including electricity, water and car registration will be frozen (no increase due to indexation) until 1 July 2021. Electricity prices for small and medium businesses (those paying regulated tariffs) will be frozen from 1 July 2020 (no increase due to indexation) until 1 July 2021. 
Other initiatives:

$30 million Home Improvement Scheme, $6000 grant for Territory homeowners and landlords who also contribute $2000, and a $4000 grant with a $1000 contribution.

Find out more about the federal stimulus overview and other key advice below:

Federal Stimulus Overview
ACT & NSW Overview

VIC & TAS Overview
WA & SA Overview
Guidance, Resources & FAQs