The Government of South Australia has just announced a second economic support package. The $650 million package has four key elements:
- Relief from taxes and charges.
- A Business and Jobs Support Fund.
- A Community and Jobs Support Fund.
- Additional support to recipients of JobSeeker payments from Centrelink who also receive a State Government Cost of Living Concession.
The $300 million Business and Jobs Support Fund aims to assist businesses and industries facing collapse due to the effects of COVID-19 and the restriction in place to stop its spread.
A $250 million Community and Jobs Support Fund is aimed at supporting community organisations, such as sporting, arts, recreational bodies and not-for-profit organisations.
Businesses will see more relief from payroll tax, with a six month waiver for businesses with less than $4 million turnover and six months deferment for businesses who earn over $4 million.
People who find themselves out of work will also gain more support, with a one-off $500 boost to households receiving JobSeeker payments.
For more details visit Treasury SA.