The Tasmanian Budget 2014-15 was handed down Thur 28.8.2014. As part of the Tasmanian Government’s Job Creation Package, the Budget contains the fourth Employee Incentive Scheme Payroll Tax Rebate (EISPR4). This measure provides a payroll tax rebate of up to 2 years for private sector employers who create additional, eligible positions in Tasmania from 30 June 2014 to 30 June 2015. The additional positions must be maintained until at least 30 June 2016. [Thomson Reuters note: The legislation to implement the EISPR4 has been enacted: see Employment Incentive Scheme (Payroll Tax Rebate) Amendment Bill 2014 (Tas) which received Royal Assent on 23 June 2014.]

The Budget also announced that rather than scrapping the $30,000 First Home Builder Boost at the end of the year, as the previous Government planned, the Budget extends the Boost for 6 months at the rate of $20,000, and then keeps it going at id=”mce_marker”0,000. The Budget also announced a reduction in motor tax on light vehicles and insurance duty on Motor Accidents Insurance Board premiums to apply from 2017-18

[LTN 167, 29/8/14]