2022 TA Queensland COVID-19 business grants and assistance Minimum drawdowns for superannuation pensions have been halved again for the 2022–23 income year. This extension means that the reduction of minimum drawdowns will be available for self-funded retirees from 1 July 2019 through 30 June 2023. Announced: 22-Mar-2020
This measure is intended to support retirees in managing the impact of the: •
recent volatility in financial markets, and
•
prevailing low interest rates on their retirement savings.
Updated: 12-Apr-2022
Apprentice wage subsidy programs All eligible businesses who employ an apprentice between 5 October 2020 and 30 June 2022 are eligible to receive a 50% wage subsidy. The wage subsidy is available for 12 months from commencement of employment. The maximum available subsidy is $7,000 per quarter per apprentice. This wage subsidy is a stimulus payment announced to effectively boost employment for young people and help businesses transition away from the COVID-19 downturn. These payments will be received via the Australian Apprentices Incentives Program. This program currently services employers by providing cash payments when apprentices meet certain targets.
Announced: 12-Mar-2020 Updated: 12-Apr-2022
Another program for apprentices that was in place prior to 5 October 2020 dealt with keeping apprentices employed (as opposed to employing new apprentices). These subsidies were to combat rising unemployment and an expected economic downturn due to COVID-19. The wage subsidy was based on which apprentices remained in employment with their employer on 1 March 2020 and 1 July 2020. Originally, only small business employers were eligible to participate. From 1 July 2020, the government extended the measure to include medium-sized businesses. The original wage subsidy commenced for employers from 1 January 2020 and ran through to 31 March 2021.
Temporary fuel excise cut and fuel tax credits Excise and excise-equivalent customs duty that applies to petrol and diesel will be temporarily reduced by 50%. The reduction of the fuel excise will be in place for 6 months, beginning at 12:01am on 30 March 2022 and ending at 11:59pm on 28 September 2022.
Announcement(29-Mar-2022) Consultation Introduced(30-Mar-2022) Passed(30-Mar-2022)
The new temporary excise rate of 22.1 cents per litre will bring excise below the road user charge for
Royal Assent(31-Mar-2022)
businesses who claim fuel tax credits.
Date of effect(30-Mar-2022)
50% minimum pension drawdowns extended for another 12 months Minimum drawdowns for superannuation pensions have been halved again for the 2022–23 income year. This extension means that the reduction of minimum drawdowns will be available for self-funded retirees from 1 July 2019 through 30 June 2023. This measure is intended to support retirees in managing the impact of the: •
recent volatility in financial markets, and
•
prevailing low interest rates on their retirement savings.
Announced: 22-Mar-2020 Updated: 12-Apr-2022
