$500 million loan facility
On 17 March 2020, the Palaszczuk Government announced they would create a $500 million loan facility, interest free for the first 12 months, to support small businesses to keep Queenslanders in work.
Deputy Premier and Treasurer Jackie Trad said the $500 million concessional loan facility would comprise loans of up to $250,000 with an initial 12-month interest free period for businesses to retain staff.
Queensland payroll tax returns are not due for lodgement or payment before 31 July 2020.
|Return period||Normal due date||Deferred due date|
|February||9 March 2020||3 August 2020|
|March||7 April 2020||3 August 2020|
|Jan- Mar quarter||7 April 2020||3 August 2020|
|April||7 April 2020||3 August 2020|
|May||8 June 2020||3 August 2020|
|2019-20 annual||21 July 2020||3 August 2020|
During this time if you want, you can lodge your returns but not pay them – this may help you keep track of your liabilities. You can also choose to continue lodging and paying as usual.
DISCLAIMER: The information in this article is general in nature and is not a substitute for professional advice. Accordingly, neither TJN Accountants nor any member or employee of TJN Accountants accepts any responsibility for any loss, however caused, as a result of reliance on this general information. We recommend that our formal advice be sought before acting in any of the areas. The article is issued as a helpful guide to clients and for their private information. Therefore it should be regarded as confidential and not be made available to any person without our consent.
Jeanette has over 20 years experience as an accountant in public practice. She is a Chartered Accountant, registered tax agent and accredited SMSF Association advisor. When she is not helping business owners grow their empires, you will likely find her out running on the trails or lifting weights in her local CrossFit gym. Book in to see Jeanette today.