26 September 2023

Money back for business

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Business Queensland has announced a new range of initiatives, including a payroll tax refund, aimed at easing the financial pressure on businesses across the State during the COVID-19 health crisis.

Deputy Premier and Treasurer, Jackie Trad said the initial response to the $4 billion package of measures had been encouraging.

“We know that keeping as many companies operating and as many workers being paid as possible is the best way to nurse our economy through this downturn,” Ms Trad said.

“We designed the refund this way because it’s the quickest way to get it back into the hands of small business owners.”

Minister for Employment and Small Business, Shannon Fentiman said she was pleased to see so many businesses were able to benefit from the payroll tax refund.

“We want to continue to support our businesses to stay open and bounce back once the economy recovers,” Ms Fentiman said.

General Manager of Advocacy and Policy at the Chamber of Commerce and Industry Queensland, Amanda Rohan said the immediate access to finance relief was what businesses needed to try and keep their doors open.

“We know businesses are currently overwhelmed as they deal with these unfolding and challenging conditions, and financial strain is causing a lot of stress,” Ms Rohan said.

In addition to the refunds, the Queensland Rural and Industry Development Authority has received more than 12,000 expressions of interest for the Government’s interest-free loans for COVID-19 impacted businesses.

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