12 November 2020
Michael Ferguson MP
2020-21 Budget: Bolstering jobs and confidence through grants and support
As part of the Tasmanian Liberal Government’s extensive plan to recover and rebuild a stronger Tasmania, we are providing assistance to individuals, families and businesses through a range of grants and support.
This is the best way to get our economy moving again by creating jobs, inspiring confidence and strengthening our communities.
Tasmanian HomeBuilder Grant Scheme and First Home Owners Grant
To support the building and construction sector, we are providing $20 million in the State Budget over two years for the Tasmanian HomeBuilder Grant Scheme. This will fund the $20,000 Tasmanian HomeBuilder Grant, which complements the Australian Government’s $25,000 HomeBuilder Grant.
The HomeBuilder Grants are available for eligible contracts entered into on or after June 4 and up until December 31, 2020.
As at 30 October, 404 applications for the Tasmanian grant were received, 160 were pre-approved, and 26 were paid.
The HomeBuilder stimulus is in addition to the Tasmanian Government’s $20,000 First Home Owner Grant, which the Government has extended to June 30, 2022, with $19.4 million budgeted over three years.
Business Support Loan Scheme and Business Growth Loan Scheme
The Business Support Loans Scheme was one of a number of early initiatives the Tasmanian Government introduced to support businesses in response to the COVID-19 pandemic. There were more than 350 applicants approved for loans, totalling $35 million.
The $60 million Business Growth Loans Scheme opened for applications on September 14, with 50 applications submitted as at November 2.
Digital Ready for Business Program
The 2020-21 Budget provides additional funding of $50,000 for extended two-hour, one-on-one assistance sessions and mentoring advice to assist businesses to seize digital economy opportunities.
This program provides targeted assistance and advice to support Tasmanian small businesses to improve their participation in the digital economy.
This is a carefully designed Budget for our times, bolstering the confidence Tasmanian businesses and the community needs as we recover and rebuild a stronger Tasmania.