Tasmanian Government Budget 2017-18

Tasmania's 2017-18 Budget was handed by Treasurer Peter Gutwein on 25 May 2017. Please find a quick summary of grants below: • $20 million to support business by reducing electricity costs. • $11 million in additional support for Tourism marketing. • $17.1 million in payroll tax relief for businesses which employ apprentices, trainees and young people. This measure will encourage employers to expand their workforce by taking on young Tasmanians. • $4.1 million Jobs Action Package: Employment Partnership with TasCOSS and the TCCI helping increase employment, including the 'Jobs Bus'. • $2 million in grants to small business to support the employment of new apprentices and trainees. The program will provide incentive payments of up to $4,000 per apprentice or trainee upon successful completion of major milestones in the first two years of their training. • $1.1 million Workforce for Now and the Future initiative, including the Driving for Jobs trial to help young people get a driver’s licence by blending driver training with education and vocational training. • $900,000 for a Start-Up Accelerator Program to attract and support cutting edge start-ups. • $600,000 Whitelion Work Ready program for high risk young people aged between 16-24. • $750 million to deliver the National Disability Insurance Scheme. The budget papers can be found here.

2018-03-12T18:19:58+00:00 May 26th, 2017|Categories: News|Tags: , , , , , , |

The Federal Budget: Changes to Business Grants, R&D and Innovation

Treasurer Scott Morrison handed down his second Federal budget last night. While there is significant discussion around infrastructure spending and changes to welfare payments, the impact on business grants and R&D Tax Incentive has been minimal, and that’s good news. For full details of grant changes, please read our detailed summary. Or, for a simple one page list of new and extended grant programs read our short summary. What hasn’t changed Many of the key government grants and programs for business have remained untouched. The R&D Tax Incentive has been the subject of continued speculation, but in last night’s budget, there were no changes announced. The government is still to respond to the recommendations from the recent review of the R&D Tax Incentive, however, from a budget perspective, no news is good news. Programs such as the Entrepreneurs Program, including Accelerating Commercialisation, and Export Market Development Grant have had no changes. No other key grants have been abolished or cut either. In the main, the $40.9B of Federal Grants (as a share of the $49.1B of total business grants and assistance) has had minimal changes. Manufacturing support gets a bump The government announced last week the budget measure to establish the Advanced Manufacturing Fund. This $101.5M program has several components, most notably the $47.5M Advanced Manufacturing Growth Fund which seeks to fund up to a third of capital upgrades that drive innovation and advanced manufacturing. This applies mainly to Victoria and South Australia, however, manufacturers in other states may benefit from [...]

2018-03-12T18:07:18+00:00 May 10th, 2017|Categories: News|Tags: , , , , , , |