2,700 Victorian small businesses to receive tax refunds

Two thousand seven hundred Victorian small businesses will receive payroll tax refunds as part of the government’s $500 million Business Support Fund grants to support the state’s economy.

The first portion of the funding will see the government put $52 million directly into the bank accounts of business owners.

More than 21,000 small businesses have been contacted about their refunds, with more than 30,000 employers who don’t pay payroll tax eligible for $10,000 grants.

Premier Daniel Andrews said it was important for the government to act quickly to help businesses survive the impacts of coronavirus.

“We’re getting money out the door and into the bank accounts of struggling businesses as quickly as possible,” he said.

More than $1.1 billion has been paid to businesses in the past week, which exceeded the target of $750 million in fast-tracked payments.

“We’re making sure more Victorian businesses can access payroll tax refunds to help them weather this storm and get through to the other side,” treasurer Tim Pallas said.

National Cabinet has announced strict new quarantine measures to slow the spread of coronavirus, as most current Victorian cases of coronavirus were connected to returned overseas travellers.

The government will continue to work closely with business, unions and in consultation with the Commonwealth to announce further support in the coming weeks and months.

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