Tax refunds help local businesses
SEVERAL local businesses have received payroll tax refunds as part of a state government initiative.
The Coronavirus Payroll Tax Relief allowed businesses with annual wages of up to $3 million have their payroll tax for the 2019-20 financial year waived.
In total, 52 businesses in the Surf Coast Shire and 438 businesses in the City of Greater
Geelong received the refunds, accumulating to $1,055,433 and $7,417,286 in government support respectively.
South Barwon Labor MP Darren Cheeseman said the state government was intent on keeping as many businesses open as possible.
“The Victorian Government is giving local businesses the support they need to survive in this unprecedented pandemic. We’re fighting for every job and every industry to ensure we get through to the other side.”
Treasurer Tim Pallas said the financial support would go some way to helping the financial losses businesses have faced due to lockdown restrictions.
“This is money in the pocket of Victorian businesses doing it tough. We know these restrictions have been incredibly difficult – but staying apart has been essential in slowing the spread of the virus and saving lives.”
The payroll tax refunds are part of the state government’s wider $1.7 billion Economic Survival Package.
This package has also seen local businesses receive a one-off $10,000 Business Support Fund grant to help pay utilities and salaries.
In the Surf Coast Shire, 473 businesses have received this grant, with a further 2,434 receiving it in the City of Greater Geelong.