Tasmania touts for outside trade by cutting payroll taxes Tasmania touts for outside trade by cutting payroll taxes

Tasmania touts for outside trade by cutting payroll taxes
28 Jun 2018

Tasmania is trying to attract businesses based on the Australian mainland, with the state government offering payroll tax incentives for those that relocate.

The Liberal government's first budget since re-election revealed a healthy bottom line, paving the way for 35% tax cuts for small-to-medium businesses. Treasurer Peter Gutwein said further incentives were available for those coming to take up opportunities in Tasmania, according to the Herald Sun.

"We will provide a payroll tax concession for up to three years for interstate businesses that relocate and employ in regional Tasmania," he said. "We know that the eyes of the world are on us at the moment. We want to assist those business from interstate that want to share in and contribute to our successes."

The payroll tax cuts, which will be available to all companies with payroll under AUS$2 million (US$1.5 million), could save them up to AUS$15,750 (US$11,788), he added.

There will also be incentives for businesses that move from Greater Hobart to one of the regional areas.

Tasmania's 2018-19 budget made headlines for its massive AUS$2.6 billion (US$1.95 billion) infrastructure spend and was heralded by its second-term government as the dawning of a "golden age" for the state.

 Emma Woollacott

Emma Woollacott is a freelance business journalist. Her work has appeared in a wide range of publications, including the Guardian, the Times, Forbes and the BBC.

Tasmania is trying to attract businesses based on the Australian mainland, with the state government offering payroll tax incentives for those that relocate.

The Liberal government's first budget since re-election revealed a healthy bottom line, paving the way for 35% tax cuts for small-to-medium businesses. Treasurer Peter Gutwein said further incentives were available for those coming to take up opportunities in Tasmania, according to the Herald Sun.

"We will provide a payroll tax concession for up to three years for interstate businesses that relocate and employ in regional Tasmania," he said. "We know that the eyes of the world are on us at the moment. We want to assist those business from interstate that want to share in and contribute to our successes."

The payroll tax cuts, which will be available to all companies with payroll under AUS$2 million (US$1.5 million), could save them up to AUS$15,750 (US$11,788), he added.

There will also be incentives for businesses that move from Greater Hobart to one of the regional areas.

Tasmania's 2018-19 budget made headlines for its massive AUS$2.6 billion (US$1.95 billion) infrastructure spend and was heralded by its second-term government as the dawning of a "golden age" for the state.

 Emma Woollacott

Emma Woollacott is a freelance business journalist. Her work has appeared in a wide range of publications, including the Guardian, the Times, Forbes and the BBC.

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