Federal Member for Capricornia and Assistant Minister for Regional Tourism Michelle Landry has welcomed a $600 million package to help Queensland Businesses affected by COVID-19.
The Commonwealth and Queensland Governments have reached a 50/50 funding agreement that will see the value of the Queensland COVID-19 Business Support Grants rise from $260 million to $600 million.
As part of the package additional support for businesses that have had a decline in turnover of more than 30 per cent will include:
• A $1,000 one-off grant to non-employing sole traders across Queensland that have had a decline in turnover of more than 30 per cent.
• Payroll-based support for all businesses across Queensland, that have had a decline in turnover of more than 30 per cent.
o A $5,000 one-off, top-up grant to small business with payroll of less than $1.3 million
o A $10,000 one-off, top-up grant to medium sized business with payroll between $1.3 million and $10 million
o A $25,000 one-off, top-up grant to large sized tourism and hospitality focused businesses only with payroll of greater than $10 million. Federal Treasurer Josh Frydenberg said this new business support package recognises that the impact of lockdowns is felt right across Australia.
Federal Member for Capricornia said that many businesses have contacted her for additional economic support.
“I have been working hard behind the scenes with my LNP colleagues and I am glad to see this program come to fruition,” Ms Landry said.
“These measures are important to regional tourism and for businesses in regional areas.”
Full details about the program can be accessed at www.business.qld.gov.au/supportgrants