Apr 03, 2020 / News

COVID-19

SA State Government’s COVID-19 Stimulus Package

A brief summary of the recently announced economic stimulus package announced by the Marshall Liberal Government, to help drive the South Australian economy and secure local jobs.

Payroll Tax Relief

• 6-month waiver relief for all businesses with an annual grouped payroll up to $4 million
  • Eligible businesses won’t have to pay any payroll tax from April to September 2020 (for the return periods March to August 2020)
  • Monthly payroll tax returns still required to capture wages for month, but no payment required
  • Waiver to be finalised as part of the annual rec process for 2019-20 and 2020-21
  • An online application form will become available for business that were not liable for payroll tax in 2018-19
• 6-month deferral relief for Employers with grouped annual wages > $4 million on demonstration of significant impacts on cash flow due to COVID-19
  • Total 6 month deferred payments will become payable in October 2020
  • Deferral will be shown as part of annual rec process

Land Tax Relief

• Land tax reform and aggregation changes are still going ahead effective 1 July 2020
• Land tax reform ‘Transition Fund’ relief being increased from 50% to 100% in the first year 2020-21 (only applies to companies and individuals)
  • Available where there’s an increase in land tax assessment in 2020-21 compared to previous year resulting from new aggregation measures
• Deferral of Valuer-General’s state-wide revaluation of property site values

Job Accelerator Grant

• The Government is relaxing the existing Job Accelerator Grant (JAG) criteria requiring an employer to have maintained their overall employment levels for a full year to be eligible for their second anniversary JAG payment. The Government understands that due to the impact of COVID-19, some employers may not be able to meet this criteria
• Claims for the second anniversary JAG payment from 1 February to 30 June 2020 will be assessed on staffing levels as at 31 January 2020 rather than the relevant two-year anniversary date

Liquor Licence Fees

• Waiver for businesses unable to operate as a result of social distancing restrictions

Cost of Living Concessions

• A once off $500 boost payment, plus bringing forward the 2020-21 ‘Cost of living concession’ for households receiving the Centrelink JobSeeker payment

Gaming Tax Deferral

• March gaming tax has been deferred, awaiting further annoncements

Business and Jobs Support Fund

• $300M fund to support individuals, business and industry sectors directly. Details yet to be released but we will keep you up to date

Community and Jobs Fund

• $250M fund to support community organisations, sporting, arts and recreational bodies, non-profit organisations as well as some industry sectors.  Details yet to be released but we will keep you up to date.

How can Nexia Edwards Marshall help you?

If you would like to understand how these measures may apply to you or your business please contact our South Australian taxes expert George Papanicolaou or or your Nexia Edwards Marshall advisor to discuss.

The material contained in this publication is for general information purposes only and does not constitute professional advice or recommendation from Nexia Edwards Marshall. Regarding any situation or circumstance, specific professional advice should be sought on any particular matter by contacting your Nexia Edwards Marshall Adviser.