There are a range of payroll tax waivers, exemptions and deferrals available to businesses.
Businesses will receive an exemption from payroll tax for apprentices or trainees employed after 1 August 2020 until 30 June 2021.
If COVID-19 restrictions tighten again, payroll tax exemptions will be available to businesses that can’t operate due to ACT Government health-related restrictions, and case-by-case waivers will be available for businesses that can only operate on a limited basis.
If part of a group, all ACT businesses with group Australia-wide wages of up to $10 million can defer their 2020-21 payroll tax, interest free until 1 July 2022.
All ACT businesses that are not part of a group with Australia-wide wages of up to $10 million can defer their 2020-21 payroll tax, interest free until 1 July 2022.
The ACT Government will extend the food business registration fee waiver provided as part of the COVID-19 Economic Survival Package for a further year until 31 March 2022. The outdoor dining permit fee waiver will also be extended for a further year until 30 June 2022.
The government will also reduce “on liquor” and “general liquor” licence fees by 50 per cent for one year from 1 April 2021 for licensed venues with a gross liquor purchase value of below $3 million per annum.
Commercial tenancy relief has been extended until 31 January 2021. Applications will be accepted up to 31 March 2021.
Commercial landlords of properties with an average unimproved value (AUV) of $2m or below, with tenants who have been directly impacted by COVID-19, can apply for rent reduction support if they reduce rent for their tenants.
The level of support is based on a tiered category system:
Category 1 – Businesses partially or not affected (no more than 30% reduction in business income).
– Business tenants should continue to pay rent and no rental reduction assistance will be provided by the ACT Government.
Category 2 – Businesses significantly affected (at least 30% reduction in business income) but still operating.
– Landlords with business tenants in this category, can receive 25% of rent reduction provided to tenants as a rebate from the government, capped at the lower of $5,000 per quarter (or around $380 per week) or total quarterly rates.
– Owner-operated properties can receive a rebate equal to 50% of their rates, capped at $5,000 per quarter (or around $380 per week).
Category 3 – Businesses who have effectively shut-down operations (at least 80% reduction in business income).
– Landlords with business tenants in this category, can receive 50% of rent reduction provided to tenants as a rebate from the government, capped at the lower of $8,000 per quarter (or around $615 per week) or total quarterly rates.
– Owner-operated properties can receive a rebate equal to 80% of their rates, capped at $8,000 per quarter (or around $615 per week).
The ACT Government is offering stamp duty concessions in the ACT for some home buyers planning to live in their new property.
The following concessions will apply to contracts exchanged between 4 June 2020 and 30 June 2021:
– No stamp duty on single residential dwelling blocks.
– No stamp duty on off-the-plan unit (unit-titled apartment and townhouses) purchases up to $500,000.
– An $11,400 stamp duty reduction for off-the-plan unit (unit-titled apartment and townhouses purchases between $500,000 and $750,000.
You’ll need to meet all of these to be eligible:
– contracts must be signed and exchanged between 4 June and 30 June 2021
– at least one buyer must live in the home continuously for at least one year, starting within 12 months of settlement or completion of construction.
– the concessions relating to off the plan ‘units’ refer only to unit-titled apartments or townhouses.
– the concession relating to ‘single residential dwelling blocks’ mean the land must be vacant when you purchase it, and the land title must only allow one residence/house to be built on the land.
Your eligibility will be identified as part of the settlement process.
The Commonwealth Government announced a new HomeBuilder Grant to provide economic support during the Coronavirus pandemic.
The grant is available to eligible owner-occupiers (including first home buyers) to build a new home or substantially renovate an existing home, with:
– $25,000 for contracts entered into between 4 June 2020 to 31 December 2020 and
– $15,000 for contracts entered into between 1 January 2021 to 31 March 2021.
While the eligible contract must be signed between 4 June 2020 and 31 March 2021 (inclusive), construction doesn’t need to have commenced by this date. It needs to have commenced:
– within six months of the contract date
– after 4 June 2020.
The JobMaker Hiring Credit scheme is an incentive for businesses to employ additional young job seekers aged 16–35 years. Eligible employers can access the JobMaker Hiring Credit for each eligible additional employee they hire between 7 October 2020 and 6 October 2021.
Through the JobMaker Hiring Credit scheme, eligible employers may receive payments of up to:
– $200 a week – for each eligible additional employee aged 16 to 29 years old inclusive.
– $100 a week – for each eligible additional employee aged 30 to 35 years old inclusive.
The employee’s age will be based on the date they commenced employment with the employer.
Payments will be made in arrears following each JobMaker period.
You can read the full 2021-22 Budget papers here, or contact us to discuss further.
