Western Australia Premier Mark McGowan has announced a $607 million stimulus packaged to help small and medium businesses and households in the state.
The Premier has committed $114 million to support small businesses including:
- A one-off grant of $17,500;
- Bringing forward the $1 million payroll tax threshold tax by six months to July 1, 2020; and
- Businesses affected by Covid-19 can defer payroll tax payments until July 21, 2020.
11,000 WA businesses are expected to benefit from the cut in payroll tax.
In addition to the stimulus for small and medium sized businesses the WA Government will immediately place a freeze on household fees and charges, including electricity, water, motor vehicle charges, the emergency services levy and public transport fares.
"We are in uncharted territory and there's no doubt our economy is going to feel the effects of COVID-19," says Premier McGowan.
"As a responsible Government, we must respond and we must provide certainty to both businesses and households."
"These measures will provide relief to WA families, seniors and small businesses to further support our economy to withstand the headwinds we face."
Updated 5:10pm AEDT on 16 March 2020.
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