Receive the latest mybusiness news
Copyright © 2020 MOMENTUMMEDIA

Tasmania commits $22m to payroll tax rebates

Adrian Flores
Adrian Flores
09 November 2020 1 minute readShare
payroll tax rebates

The Tasmanian government has announced it will invest more than $22 million towards extending current payroll tax rebates ahead of its budget announcement next week.

In a statement, Premier Peter Gutwein said legislation for the extension of the payroll tax incentives will be introduced into the State Parliament next week, in order that the incentives and the expanded Small Business Grant can begin on 1 January next year.

The $22 million investment includes:

  • Extending the current payroll tax rebate for all youth employees for a further 18 months,
  • Extending the current payroll tax rebate for apprentices and trainees for a further 12 months, and
  • Extending both rebates to all industry sectors.

The government also announced it would be extending the Targeted Apprentice and Trainee Grant for Small Business to any small business who employs an apprentice or trainee until 30 June 2022.

“As a government, we recognise the valuable investment business makes in training the next generation of Tasmanian workers, and we want to make sure businesses are confident and prepared to take on more apprentices, trainees and young people,” Mr Gutwein said.

“Not only will this help young people get their foot in the door for a job, but it will help our businesses with a ready supply of skilled young people for the future.”

The move comes as the Tasmanian government revealed earlier this month of a $1 million mental health support package for small businesses impacted by the public health restrictions imposed in response to the coronavirus crisis.

Up to 1,000 placements will be offered to owners and employees of Tasmanian small businesses of various industries and locations who identify a need for mental health training or assistance.

Tasmania commits $22m to payroll tax rebates
mybusiness logo
Adrian Flores
Adrian Flores

Adrian Flores is the deputy editor of MyBusiness. Before that, he was the deputy editor for SMSF Adviser as well as features editor for ifa (Independent Financial Adviser), InvestorDaily, Risk Adviser, Fintech Business and Adviser Innovation.

You can email Adrian at [email protected].

Leave a Comment

Latest poll

How satisfied are you with the SME measures in the federal budget?