Territory businesses hurting from the COVID-19 pandemic will have their payroll taxes slashed and power bills halved, in a further $180 million rescue package from the government.
NT businesses hurting from the COVID-19 pandemic will have their payroll taxes slashed and power bills halved, in a $180 million rescue package announced today by Chief Minster Michael Gunner.Today's new measures come on top of more than $115 million in direct business support payments and stimulus spending already announced
Mr Gunner had also written to council across the NT today, asking them to provide at least six months of rate relief through a three month waiverMr Gunner said the initiative aimed to keep Territorians in a job and to help businesses stay afloat for the next six months. "Right now, a dollar that does not have to be spent on payroll or power prices is a dollar than can be spent keeping a Territorian in a job," he said.
"We are slashing payroll tax for smaller and medium businesses who can show they have been hurt by the coronavirus — their payroll tax will be completely abolished for the next six months.The waiver will apply to Territory employers with a total payroll below $7.5 million and where turnover has dropped by at least 30 per cent, while affected businesses with higher tax bills will get the deferral.
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