Palaszczuk Government offers $500m in loans to support workers in businesses affected by coronavirus

Published:

The Palaszczuk Government will create a new $500 million loan facility, interest free for the first 12 months, to support businesses to keep Queenslanders in work and extend the coronavirus payroll tax deferral to all businesses across the state.

Premier Annastacia Palaszczuk said the rapidly evolving impacts of the pandemic demanded a rapidly evolving response from Government.

“We know just how tough Queensland families and businesses are doing it in the face of this pandemic,” the Premier said.

“At the end January, our Government was the first to declare a health emergency allowing isolation of patients to be enforced.

“We were the first to unveil an assistance package for those businesses most directly affected like tourism operators and seafood exporters.

“We know the effects of this outbreak will grow and intensify, and as they do, so will our measures to protect Queenslanders health, their jobs and their businesses.”

Deputy Premier and Treasurer Jackie Trad said the $500 million concessional loan facility would comprise loans of up to $250,000 with an initial 12-month interest free period for businesses to retain staff.

“The Queensland Government already backs farms and businesses with assistance loans in times of natural disasters,” Ms Trad said.

“Through the Queensland Rural and Industry Development Authority, we already have the mechanism in place to start rolling these loans out the door as soon as possible to help Queensland businesses keep staff on and survive this downturn.”

The Deputy Premier said in just two weeks, the initial offer of payroll tax deferral had already been taken up by almost 300 small and medium businesses.

“As the Prime Minister has pointed out, it’s small businesses that are hurting the most, and its them we moved to help first with our initial payroll tax deferral earlier this month,” she said.

“But we are seeing this outbreak is having a devastating impact on all Queensland companies, large and small, so now we will extend the offer of a six-month payroll tax deferral to all affected businesses across the state.”

“We know the deferral for small businesses was popular – in the first fortnight we’ve already seen companies from the Gold Coast to Far North Queensland in sectors from tourism and hospitality to marine engineering take up the offer.”

As with the initial payroll tax deferral offer, the Office of State Revenue will also work with affected businesses to create repayment plans for the deferred tax liabilities.

Information on the concessional loans will be available at www.qrida.qld.gov.au from thhe end of this week.

Information on payroll tax deferral can be found at www.osr.qld.gov.au

JOINT STATEMENT
Premier and Minister for Trade
The Honourable Annastacia Palaszczuk
Deputy Premier, Treasurer and Minister for Aboriginal and Torres Strait Islander Partnerships
The Honourable Jackie Trad

 
Business Business & Economy Coronavirus COVID-19 Health & Wellness Money & Finance Political Queensland Government Small Business
Social:   

Annastacia Palaszczuk : Queensland Premier and Minister for Trade :
PO Box 15185, City East, Queensland 4002, Queensland Wide
07 3224 4500
Annastacia Palaszczuk : Queensland Premier and Minister for Trade
Showing 10+ recent articles for this business
Queensland COVID-19 – Tuesday, April 7 07 April 2020 | Social distancing and community discipline should continue over the Easter break to keep downward pressure on new coronavirus cases, Premier Annastacia Palaszczuk said. More information...
Queensland COVID-19 – Monday, April 6 06 April 2020 | Premier Annastacia Palaszczuk said a welcome downward trend in new coronavirus cases was continuing, while testing for community transmissions will be expanded. More information...
$17.5 million plan to protect families of health heroes 06 April 2020 | Thousands of Queensland’s frontline health workers could be provided free accommodation if they want to self-isolate. More information...
Queensland COVID-19 Update – Sunday, April 5 05 April 2020 | Today’s relatively low rate of increase in coronavirus cases is welcome news but also reinforces the need to maintain social distancing to contain the spread. More information...
Queensland manufacturers Evolve in time of need 05 April 2020 | Queensland manufacturers are stepping up like never before to provide essential products for health workers and communities in response to the coronavirus. More information...
Queensland COVID-19 Update – Friday, April 3 03 April 2020 | Premier Annastacia Palaszczuk has applauded Queenslanders for responding positively to community measures in the joint battle against COVID-19. More information...
Care army mobilised to support and protect seniors from coronavirus 01 April 2020 | A Care Army of professionals and volunteers will rally around Queensland’s seniors, while a new telephone hotline is also being launched, to help ensure the wellbeing of older people during the Coronavirus... More information...
Special team to boost tracking and enforcement in bid to halt coronavirus 31 March 2020 | In an Australian first, the Palaszczuk Government will establish a dedicated team to boost tracking in the government’s fight against coronavirus. More information...
Queensland planning for temporary emergency hospitals for Covid-19 victims 29 March 2020 | Premier Annastacia Palaszczuk has confirmed the Department of Health is proactively exploring options for setting up plans for temporary hospitals state-wide in vacant hotels, convention centres and possibly... More information...
Student free days for Queensland state schools next week 26 March 2020 | Queensland schools will go student-free next week, as the state’s education system continues to work to limit the spread of coronavirus. More information...


comments powered by Disqus

All articles submitted by third parties or written by My Sunshine Coast come under our Disclaimer / Terms of Service