RSM Australia

TAS State Government’s COVID-19 Stimulus Package – What you need to know

Tax Insights

*This page was last updated on 18 March. For more information, click here.

The Tasmanian Government will: stimulus package

  • Waive the requirement for employers in the hospitality, tourism and seafood industries to lodge payroll tax returns for March, April and May 2020.  The Tasmanian State Revenue Office will still require the 2019-20 annual return to be lodged by 21 July 2020, but the State Government will waive payroll tax for relevant wages for the months of March, April, May and June 2020.
  • For employers outside of the above industries with group Australian taxable wages of up to $5m, apply a rebate of their payroll tax for the months of March, April and May 2020.

  • From 1 April 2020, provide a one-year rebate for employers who pay payroll tax and employ new youth employees under the age of 25.  Further details of this rebate scheme are pending.
  • Provide one-off emergency relief payments of $250 for individuals and up to $1000 for families who are required to self-isolate by public health as a result of coronavirus;
  • Provide $1m for accommodation for front line workers in circumstances where their family members are ill so they can continue to contribute to health responses;
  • Make $1m for individuals and families who had been placed on home quarantine but were unable to return to their regular place of residence due to self-isolation measures;
  • Provide $20m in interest-free loans to businesses in the hospitality, tourism, seafood and exports sectors; and
  • Provide $50m in interest-free loans over three years for local councils to upgrade and renovate tourism assets while increasing employment.

Source: www.theadvocate.com.au/story/6683507/economic-stimulus-package-announced/

RSM will continue to keep you informed of any further announcements of stimulus and support measures by State and Federal Governments.

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