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Insights

April 02, 2020

State-Based Stimulus Package Initiatives | Tasmania

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James Morris
Stimulus Package Initiatives Tasmania

In addition to the nationwide stimulus, states and territories have also created local business relief packages. From payroll tax to small business loans, State Government initiatives for Tasmania are outlined below. (please click on the links in each section for more information)

Support for Primary and Mental Health Sectors

Assistance for health care workers will be provided by committing $2m in additional support, $1m for accommodation for frontline workers and $1m for mental health programs for individuals suffering as a result of COVID-19.

Small Business Interest-Free Loans

$20m in interest-free loans has been allocated for businesses in hospitality, tourism, seafood production and export sectors to purchase equipment or restructure operations. The three-year loan applies for businesses with turnover of less than $5m.

Payroll Tax Waiver

Businesses in hospitality, tourism and seafood production will receive a waiver of payroll tax liabilities for the last 4 months of FY2020. Other businesses with payroll of up to $5m can apply for a waiver for April to June 2020.

Government Maintenance Program

For the next 12 months, a $50m program to fast track the maintenance of public buildings will be implemented.

More information on TAS initiatives can be found here:

Tasmanian Government: Support & Stimulus Package

Want to know more?

With the equity markets and Government support packages frequently changing, we are continually updating and creating new tools and information for you. To review the latest materials on COVID-19, please click here. This page will be regularly updated, so please check back in from time to time.

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Supporting you through the changes. From making the most of the stimulus initiatives, through to managing the risks associated with the impact of the Coronavirus, the Modoras team is here to help you build a resilient business. Make well-informed business decisions; contact us on 1300 888 803 book a catch up with a Modoras professional.

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