Grant funding in the Queensland budget
The Queensland budget will support small business grants and administrative processes and systems around these, as well as manufacturing, trade and investment and tourism infrastructure as follows:
- $150M over 10 years towards a new Queensland Trade and Investment Strategy to enhance Queensland’s trade opportunities
- $66.4M over 4 years for tourism recovery and development initiatives
- $50M over two years for manufacturing, incl. $40M for Made in Queensland program and $10M for the Manufacturing Hubs Grant Program. (Cairns, Townsville and Rockhampton)
- $39.1M over 4 years continued funding for Small Business Support, including small business grants and Mentoring for Growth program
- $11M over 2 years to enhance Queensland Government’s grants administration processes and systems.
- $1.6B for mental health services over 5 years. Funded through 0.25% levy on businesses with annual taxable wages over $10 million, and an additional 0.5% for businesses over $100 million.
- Payroll Tax relief for SMEs through adjustments to the existing payroll tax deduction framework:
> From 1 January 2023, $6.5m taxable wages deductions ceiling to be extended up to $10.4m.
> Reform estimated to benefit around 12,000 businesses with reduced payroll tax liabilities.
The broader extension of business support programs is a welcome announcement for many, and we look forward to supporting Queensland businesses to thrive with successful government grant funding opportunities.
The Activate Ecotourism Infrastructure grant is already open, with its expression of interest closing in mid July.
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