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Queensland COVID-19 business support ranges from $10,000 to $30,000 for employing business.
Queensland COVID-19 Business Support
In this update, Nathan Watt of Watson & Watt in Brisbane walks you through a short overview of the COVID-19 support for businesses in Queensland.
Here is what we learned but please listen in as Nathan explains all this much better than we ever could.
To listen while you drive, walk or work, just access the episode through a free podcast app on your mobile phone.
Queensland 2021 COVID-19 Business
The Queensland COVID-19 grants are $1,000 for non-employing business and $10,000 to $30,000 for employing business.
Employing business means that you have third-party employees, so not just you the sole shareholder and director but others. Third-party employees can include relatives.
The three-tiered grants apply as follows to employing business with a decline in turnover of at least 30%:
- $10,000 if less than $1.3m annual payroll
- $15,000 if annual payroll between $1.3m and $10m
- $30,000 if tourism + hospitality with over $10m annual payroll
You are not restricted to the lockdown areas, so even if you are not subject to a lockdown but meet the other criteria, then you qualify.
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Disclaimer: Tax Talks does not provide financial or tax advice. All information on Tax Talks is of a general nature only and might no longer be up to date or correct. You should seek professional accredited tax and financial advice when considering whether the information is suitable to your or your client’s circumstances.
Last Updated on 26 August 2021
Tax Talks spoke to Nathan Watt - Managing Director at Watson & Watt - for more details.
