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Tax break for small businesses to help them through coronavirus

by Mari Jones (2020-04-17)

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image.php?image=b11architecture_exteriorPremium Golden Oil CBD Products. Manufacturer - Treasurer Jackie Trad says traders can defer their payroll tax obligations for six months

The Queensland government has given small and medium-sized businesses a payroll tax holiday to help them survive the coronavirus outbreak.

Treasurer Jackie Trad says traders will be able to defer their payroll tax obligations for six months, backdated to when Australia's coronavirus travel ban took effect on February 1.

'Small and medium businesses are especially vulnerable to these external shocks,' Ms Trad said in a statement on Monday.

Traders with an annual Australian wage bill of up to $6.5million are eligible, across all sectors.

Employment and Small Business Minister Shannon Fentiman said the tourism and education sectors had been hit hard, along with export-focused traders.

Stock image of businesses in Brisbane CBD. Small and medium businesses could be affected the coronavirus outbreak





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'But we recognise that as the outbreak spreads, its impacts spread as well. That's why the option of deferring payroll tax ... is being offered across the state to any affected small or medium business,' she said.

Ms Fentiman called on the federal government to match all of the assistance measures Queensland has offered so far, to keep people in jobs. 



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