Details of the WA State Government’s Second Economic Relief Package

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On 31 March 2020, the WA State Government announced economic relief measures for West Australians.

Key details of the package are:

Small and medium businesses:

  • $2,500 one-off credit to Synergy and Horizon customers who consume less than 50 megawatt hours per year (expected to help 95,000 businesses)
  • Payroll tax waived for 4-month period from 1 March to 30 June 2020 for businesses with taxable wages less than $7.5m.  This replaces the previously announced deferral of payroll tax.
  • Range of license fees to be waived for four months for small and medium businesses
  • Businesses impacted by COVID-19 can apply for interest-free payment arrangements and penalty remissions for payroll tax, transfer duty, landholder duty, vehicle duty and land tax
  • Small businesses impacted by COVID-19 will not be disconnected from water or electricity due to late payments, and no interest will be charged on deferred payments.

Household assistance:

  • Eligibility for the previously announced Energy Assistance Payment boost has been expanded to include new eligible applicants until 30 September 2020.  This means those who are unemployed due to COVID-19 who become eligible for a concession card will receive an upfront $305 credited against their electricity bill (from 11 May 2020) and up to a further $305 credited over the course of the next year.
  • No water and electricity disconnections, and no interest charged on deferred payments
  • The same interest-free deferral of payments referred to above for small businesses.

Should you have any questions regarding this relief package, please do not hesitate to contact this office on (08) 6212 7200 to discuss.

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Chris Mandzufas

Chris has a diverse range of skills and experience as a result of providing accounting, taxation, advisory board and management consulting services to owners and directors of fast growing businesses.

Chris Smith

Chris Smith has been a member of the Chartered Accountants Australia & New Zealand since 2006, a member of the Tax Institute of Australia since 2013, and a registered Tax Agent since 2018.

Tony Monisse

Tony’s key focus is the integration of strategy and financial management. To this end he has developed tools and process that facilitate this integration, including business modelling, target setting and rolling cash flow forecasts.

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