The TAS Government has announced a $420m support package to support the public sector, businesses and the workforce. This package includes a payroll tax relief component.
Payroll tax for the last four months of income year 2019/20 will be waived for businesses in the hospitality, tourism, seafood and exports sectors. Affected businesses in other sectors with an annual payroll not exceeding $5m in Australian wages, can apply for a waiver of payroll tax for the three months of April, May and June 2020.
A youth employment payroll tax rebate scheme will also be introduced from 1 April 2020 to encourage youth employment. One-off grants of $5,000 for businesses that hire an apprentice or trainee will likewise be introduced.
The State Government will also introduce the following measures to support businesses:
- interest-free loans to targeted business for equipment purchase, business restructuring or asset maintenance
- reduction of terms of trade for government agencies from 30 days to 14 days
- provide a 50% discount in liquor licensing fees and waiver of application fees for the entire 2020 calendar year
- assistance to the Tasmanian Chamber of Commerce to provide advice to businesses
- waiver of tourism operator fees for the fourth quarter of 2019/20, and
- 12-month waiver of annual fees and levies for selected fisheries and divers.