The Victorian Government will pump billions of dollars into the economy to help Victorian businesses and workers survive the devastating impacts of the coronavirus pandemic.
Premier Daniel Andrews and Treasurer Tim Pallas announced on 21 March a $1.7 billion economic survival and jobs package, which has been developed following discussions at National Cabinet and complements the work of the Federal Government.
As part of the package, the Government will provide full payroll tax refunds for the 2019-20 financial year to small and medium-sized businesses with payroll of less than $3 million – giving $550 million back to businesses who need it.
Payments will start flowing next week and will save eligible business up to $113,975 a year, with businesses saving an average of $23,000. These businesses employ around 400,000 workers. This assistance is a refund, not a loan.
For more information visit the Premier of Victoria website.