‘Supercharged’ support package announced for Tasmanian businesses

On Tuesday, the federal and Tasmanian governments announced that the state’s existing business support package will increase from $20 million to $50 million, with grants of up to $50,000 available to eligible businesses.

The state government will also provide $20 million in financial relief for businesses through waiving fees and charges such as payroll tax and vehicle registration.

“There is no doubt the current border restrictions are having a significant impact on many of our businesses that rely on interstate and overseas visitation and trade, and while the initial support package has been successful in providing relief, we know that more needs to be done,” Tasmanian Premier Peter Gutwein said on Tuesday.

“We have worked closely with the federal government and the industry in recent weeks to identify further assistance and this increase in funding, combined with our payroll tax and fees and charges relief, will significantly increase the financial support available to businesses and help them through this difficult time. 

“The $50 million business support package will provide total grants of up to $50,000 based on annual turnover, with two funding rounds, the first in October and the second in November.

“Importantly, businesses that have already been deemed eligible for support through the initial $20 million package will automatically receive the next payment in line with the new maximum grant amounts.”

Eligible businesses can apply for the expanded package now.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.