- Increase the Small Business Interest Free Loan Scheme from $20 million to $50 million, which is available for businesses with turnovers of less than $10 million;
- Provide a new $40 million to the Small Business Grants Program with $20 million set aside for emergency grant support and $20 million for larger grants payments;
- Provide a Digital Ready for Business Program will be boosted with $150,000 to assist businesses who want to take their business online;
- Provide business continuity advice with $750,000 in funding made available for businesses to seek cashflow and continuity advice. This includes a $50,000 grant to the Small Business Council of Tasmania;
- A further $200,000 will be provided to the THA to provide business continuity and cashflow advice, increasing the funding for this initiative up to $250,000;
- A further $200,000 will be provided to Rural Business Tasmania for the extension of its Rural Financial Counselling service; and
Payroll tax relief
The Government will extend the previously announced Payroll tax waivers for the hospitality, tourism and seafood sectors and for Tasmanian businesses with payrolls less than $5 million which have been impacted by coronavirus to ensure that these businesses will pay no payroll taxes for the entire 2019-20 year. This measure will be delivered through a combination of payroll tax refunds and waivers.