Coronavirus WA Stimulus Package 2020

Camphin Boston | March 2020

On 16 March 2020, the Western Australia government announced a $607 million economic stimulus package to support WA households and small businesses in response to the state of emergency amid the coronavirus outbreak. These measures include:

 BUSINESS / HOUSEHOLD SUPPORT GOVERNMENT FUNDING / TAX CUTS
Freezing household fees and charges until at least 30 June 2021 including electricity, water, car licences / registration, public transport fares and emergency services levy. $402 million
Doubling the energy assistance payments up to $600 to vulnerable western Australians including pensioners. $91 million
One-off grants of $17,500 to small to medium businesses with a payroll between $1 million and $4 million, automatically be paid by cheque from July 2020 (providing relief to 7,400 WA businesses). $114 million
Bringing forward the increase in payroll threshold to $1 million to 1 July 2020 (i.e. 6 months early than planned) (to support 11,000 businesses).  
Deferral of payroll tax payments until 21 July 2020 for small business with $7.5 million or less Australian taxable wages. .  

If you have any questions, please do not hesitate to contact one of our partners (Mark, Greg and Justin) or our tax director (Melanie).

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