Tasmania continues to benefit from the Morrison Coalition Government’s leadership to guide our economic recovery from the pandemic.
Liberal Senator for Tasmania, Claire Chandler said the 2021-22 Budget is part of the Government’s plan to create more jobs, rebuild our economy and secure Australia’s future.
“The pandemic has made the last 12 months difficult for many Tasmanians, and the 2021 Budget builds upon the unprecedented support the Morrison Coalition Government provided to stimulate the economy and support jobs,” Senator Chandler said.
“Tax relief of up to $1080 will put more money back into the pockets of around 220,000 low and middle-income earners in Tasmania.
“The Morrison Coalition Government is also extending the instant asset write-off for eligible businesses to write off the full value of assets they purchase for their business.
“Small distillers and brewers in Tasmania will benefit from a tripling of the excise refund cap to $350,000 per year, meaning these small businesses can reinvest in their operations to produce their premium product and employ more locals.
“More young Tasmanians will have a pathway into work through an apprenticeship or traineeship after the Government committed $2.7 billion to extend the apprenticeship wage subsidy scheme.
“The Morrison Coalition Government has also committed $193.4 million to infrastructure projects in Lyons in the 2021-22 Budget, to ensure roads and other public assets continue to cater to the needs of locals.”
Support for individuals and families
- Tax relief of up to $1080 for around 220,000 low and middle-income earners in Tasmania
- $1.7 billion national investment in childcare to increase subsidies of families with more than one child in care, and abolishing the current $10,560 cap.
- $17.7 billion in targeted new funding to improve the aged care system. This includes an additional 80,000 new home care packages.
Support for Businesses
- Extension of the Instant Asset write-off to allow around 10,000 businesses in Lyons to write off the full value of any eligible asset they purchase.
- Tripling of the excise refund cap for small brewers and distillers to $350,000 per year.
- Extension of the loss carry-back scheme, allowing eligible businesses to utilise tax losses to offset previously taxed profits.
Education and Skills
- An additional $500 million over two years will be directed to the JobTrainer program to create an estimated 163,000 places
- $2.7 billion to extend the apprenticeship wage subsidy scheme, expected to create more than 170,000 new apprentice and trainee positions
- An additional $113.4 million investment for the Midland Highway will make it safer for users, improve freight efficiency, and reduce travel time so people can spend less time on the road and more time with their families. This includes:
o $37.8 million for the Midland Highway Upgrade – Campbell Town North (Campbell Town to Epping Forest)
o $36.4 million for the Midland Highway Upgrade – Oatlands (Jericho to South of York Plains)
o $35.7 million for the Midland Highway Upgrade – Ross (Mona Vale Road to Campbell Town)
- $4.7 million to progress with the business case of the South East Integration Project. This project aims to integrate and expand existing irrigation schemes in the region to provide an estimated additional 12GL of water to local producers in summer months.
- $351.6 million in women’s health and wellbeing measures; including funding for cervical and breast cancer, endometriosis and reproductive health.
- $1.1 billion in funding for women’s safety, including funding for crisis accommodation, financial assistance for those fleeing family violence, legal assistance and services.
Further information on the 2021-22 Federal Budget is available at: www.budget.gov.au