18 March 2020

Michael Ferguson, Minister for State Growth

Supporting businesses and keeping Tasmanians in work

Tasmania has enjoyed strong economic success with significant growth since 2014, but we are facing extremely challenging times ahead with the threat of coronavirus.

Tasmania will not be immune to the economic impacts of the virus, and the Tasmanian majority Liberal Government is working hard to mitigate those impacts and support local businesses and jobs.

Yesterday, the Government announced a $420 million support package aimed at sustaining our strong economy and keeping Tasmanians in work.

In Tasmania, 21,100 new jobs have been created since we came to Government, and our initiatives aim to underpin our economy and strongly support jobs.

The package includes a range of measures to assist businesses, including but not limited to:

• $20 million for the provision of interest free loans to businesses in the hospitality, tourism, seafood and exports sectors that have a turnover of less than $5 million.
• Waiving of payroll tax for the last four months of this financial year for hospitality, tourism and seafood industry businesses, saving businesses around $7 million. Other small to medium businesses who may be affected by coronavirus can apply to have their payroll tax payments waived from March to June 2020, saving them up to $9 million.
• Reducing the normal terms of trade for payments by government agencies from 30 days to 14 days, thereby putting cash back into businesses more quickly.
• $50 million in interest free loans to Local Government to upgrade and improve local tourist facilities around the state such as rest areas, rest and change rooms, toilets and visitor centres.
• $2.1 million for one-off $5,000 grants for businesses that hire an apprenticeship or trainee, complementing the Federal Government’s apprenticeship package.

The Tasmanian majority Liberal Government’s comprehensive support and economic stimulus package is designed to help us fight the economic impact of COVID-19 and also prepare the foundation to set Tasmania up for a rapid recovery when the pandemic eases.

For the full range of measures in our support package, visit http://www.premier.tas.gov.au/documents/FACT_SHEETS_-_STIMULUS_PACKAGES_Final-V2.0.pdf

Businesses wishing to seek further information can contact Business Tasmania on 1800 440 026 or visit www.business.tas.gov.au

More Media Releases from Michael Ferguson

More Media Releases from the Minister for State Growth