2018-2019 Tasmanian State Budget

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At a glance:

What is in the Budget for the Building and Construction Industry?

BUSINESS:

• Introduction of a payroll tax cut for all businesses that currently pay 6.1 per cent on all wages over $1.25 million, with introduction of a new lower tax rate of 4 per cent on payrolls between $1.25 million and $2 million
• A $10 million energy rebate for Tasmanian businesses currently exposed to unregulated power prices
• $7.5 million over three years in an extension of targeted small business grants and the payroll tax rebate to support training of additional apprentices

TOURISM:

• $51 million for the Cradle Mountain Experience
• $25 million for tourist roads
• $31 million for national park infrastructure and upgrades

 BUILDING AND CONSTRUCTION:

The Government is targeting a 25 per cent increase in building and construction over five years to 2013, and a 40 per cent increase in apprenticeships in private sector by 2025.

• No new or increased taxes for households or business
• The Government is working with TasWater and Local Government to freeze water and sewerage prices rises in 2019-20 and cap future price rises to no more than 3.5 per cent
• 50 per cent stamp duty holiday for first home buyers purchasing property worth up to $400,000, a saving of up to $7,000
• 50 per cent stamp duty holiday for seniors downsizing to a home that better suits their needs, saving $7,000
• An extension of the boosted first home builders’ grant of $20,000 to encourage housing construction
• Three-year land tax holiday for all new-build homes for long-term rental

The State Government has pledged to bring $25 million of its $125 million Stage Two affordable housing plan forward to 2018-19.

 INFRASTRUCTURE:

• The Government is promising a new Bridgewater Bridge will be built by 2024 with the State Government locking in its share of $121 million of an estimated $576 million price tag. There is $6 million dollars of joint funding in 2018-19 to start planning and design, with construction to begin in 2020-21
• $30.8 million for Hobart traffic congestion, including establishment of a Derwent River Ferry Service bus priority measures, a fifth lane on the Southern Outlet and improvements to Macquarie and Davey Streets over budget and forward estimates
• $21 million towards a South East Traffic Solution, and further funding of $27 million for a plan to ease congestion at the Hobart Airport interchange
• $53 million for the Launceston and Tamar Valley Traffic Vision, which includes funding to make the Mowbray interconnector safer and for West Tamar Highway upgrades
• A pledge to match the Federal Government’s $59.8 million commitment to Tranche Two of the freight rail revitalisation program to improve TasRail freight services
• $25 million for tourist roads
• $70 million for new southern remand centre
• $7.3 million for a major redesign and upgrade of Ashley Youth Detention Centre and an upgrade of Risdon Prison Shared Facilities
• The allocation of $45 million to begin stage one of the construction of the new $270 million northern prison
• $22 million for new police stations at New Norfolk and Longford, and an emergency services centre in Sorell
• $8 million for an upgraded Burnie Court
• $7 million to underpin Hermal’s million cross laminaed plantation mill in Hampshire

 EDUCATION:

• $30 million for a new Brighton High School
• $25.8 million for new Sorell school
• $20 million for Cosgrove High School
• $20 million for redevelopment of Penguin School
• $10.5 million for a Devonport High rebuild
• $10.5 million for the first four of six new early learning hubs and $15 million to build and upgrade kindergartens across Tasmania

HEALTH:

• The Government is backing a new private hospital in Launceston on the same site as the Launceston General Hospital, but with no taxpayer money attached
• The North-West Regional Hospital is getting $79 million over the next six years, including a $19.7 million upgrade in 2018-19 for an eight-bed acute medical unit and new maternity services
• $35 million in capital upgrades to the Mersey Community Hospital in 2019-20 and 2020-21 will advance, with a total allocation in 2018-19 of $8.6 million
• $28 million for Royal Hobart Hospital and Repatriation Hospital ward upgrades over five years, starting in 2018-19
• $12 million for new ambulance stations at Burnie and Glenorchy
• $87 million over next six years for a major redevelopment of the Launceston General Hospital, including $37.2 million in 2018-19
• $2.5 million redevelopment of the Midlands Multipurpose Centre at Oatlands, including two more paramedics, and building renovations
• $10.5 million for stage two of the King Island Hospital redevelopment