Victorian Treasurer Tim Pallas today announced a further $491 million in economic relief measures to help Victorians hit hardest by the Covid-19 pandemic.
Victorian businesses who have signed up for the Federal Government’s JobKeeper scheme will be exempt from payroll tax and the WorkCover levy for employees on the scheme as follows:
You don’t need to apply for this emergency relief measure and businesses that have already lodged their monthly returns for April 2020 and included additional payments in their estimated taxable wages can make adjustments as part of their payroll tax annual reconciliation in July 2020.
More information can be found here.
In terms of WorkCover, the additional payments are not included in rateable remuneration for the purposes of calculating WorkCover Premiums. For more information, visit WorkSafe.
On the day when he was supposed to be handing down the state budget, which has been postponed until at least late October, Mr Pallas also announced some relief for households, easing cost pressures for businesses and households by freezing a range of fee and fine increases due to come into force on July 1, such as drivers licence fees, vehicle registration fees and the fire service property levy at their current levels.
Should you have any questions or need any help ensuring you receive all available assistance, please reach out to our team and we will endeavour to do our best to assist.
The Team at Rose Partners