Qld Government – Coronavirus Industry Recovery Package

$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.

See our separate article regarding the loan facility.

Payroll tax

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.

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