Small businesses in Queensland will receive another $650 in energy bill rebates from July 1, with joint funding provided by both state and Commonwealth governments.
In its 2024-2025 budget, handed down Tuesday, the Queensland government confirmed around 205,000 eligible small businesses will have hundreds of dollars knocked off their power bills.
The state government will provide $325 rebates equating to $67 million in taxpayer funding, matched by Commonwealth contributions confirmed in last month’s federal budget.
That pledge extends a rebate scheme launched by state and territory governments in July 2023, which was designed to deflect the sharpest energy price increases away from struggling SMEs.
Australian Bureau of Statistics data shows energy prices rose 3.9% nationwide between June 2023 and March 2024, but without those rebates, consumer prices would have soared an astonishing 17%.
Beyond that widely anticipated measure, the budget promises a further $19.7 million to help enact its three-year Queensland Small Business Strategy.
About $7.8 million of that will be directly injected into the strategy, in order to help small businesses “manage the cost of doing business, and build their capability, capacity and resilience”.
That funding will go towards grants to assist SMEs with workforce challenges, fee-free TAFE for small business participants, financial counselling for small businesses struck by natural disasters, and mentoring and upskilling services for Indigenous businesses.
Up to $10 million is earmarked for the development and implementation of cybersecurity infrastructure for small businesses.
About $1.9 million in funding will allow the Social Enterprise Jobs Fund and Queensland Social Enterprise Council to continue their work.
The state government touts additional small business support through its already announced plans to cut car registration fees by 20%.
This discount will apply to light commercial vehicles.
“Motor vehicle expenses can have a big impact on the bottom line for Queensland’s hardworking small and family businesses, especially those who run a fleet,” Queensland Small Business Minister Lance McCallum said in a statement.
“This new Miles Labor Government commitment – to slash registration fees by 20% next financial year – will be welcomed by those who need to keep the motor running, to keep doing business.”
The budget also underpins the Queensland Business Energy Saving and Transformation (QBEST) program, announced in October, which promises rebates of up to $12,500 to small businesses installing energy-efficient technologies.
Elsewhere, a 50% payroll tax rebate covering the wages of eligible apprentices and trainees will extend for another year to June 30, 2025.
Water licensing fees of $92.01 will also be waived for landholders in regions where the Disaster Assistance (Essential Working Capital) Loans Scheme for Small Business scheme is activated, providing some $690,000 in projected benefits to disaster-struck regions.
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Senior Business Journalist
Focused on the small business sector, David’s work covers the political, regulatory, and economic issues facing Australian entrepreneurs. Prior to joining SmartCompany, he was a reporter for Business Insider Australia. You can follow him on LinkedIn.
