$414m for sporting infrastructure and community sports over the forward estimates.
$297m towards education infrastructure including building works across 25 schools in Tasmania.
$95.7m in Tasmania's freight rail network in 2025-26.
An additional $63.7m to the Greater Southeast Irrigation scheme.
$38m investment to maintain tourism marketing funding over the next four years.
An additional $5.6m towards building four new Supersized Child and Family Learning Centres across the state.
$2.5m to support small businesses, including $500,000 to establish a new Small Business Start-Up Permit process.
$1.5m towards the Agriculture Research and Development Fund.
$1.5m towards the Tasmanian Institute of Sport Talent ID Program ahead of the Brisbane Olympics.
The second budget for the re-elected government forecasted a net operating deficit of $1b for 2025-26, which is projected to reduce to $850.1m in 2026-27. The government estimated $7.3b in net debt for 2025-26, increasing to $10.8b by 2028-29.
Unemployment was recorded at 3.8 per cent in April 2025. Separately, GST is the largest source of income for the state – 40 per cent of government revenue in 2025-26.
Total revenue in 2025-26 is estimated to be $9.5b. Taxation revenue is estimated to be $1.9b accounting for 20 per cent of the total revenue.
Similarly to other state budgets delivered, no new or increases to taxes were delivered in this budget.
Consistent with pre-budget announcements, the stamp duty exemption for first home buyers of existing homes up to the value of $750,000 has been extended.
If you wish to discuss the Tasmanian State Budget announcements, please reach out to a Grant Thornton Partner today.
The Australian Federal Budget for 2026-27 will be handed down in May 2026, the first budget since Labor's re-election in 2025.
In its Budget Reply, the Opposition commits to key spending on healthcare and energy but plans to cut 41,000 public servants and repeal $17.1B in tax cuts, citing fiscal concerns.
With the 2025 Federal Budget confirmed for 25 March, we've got you covered. Check out our Federal Budget hub for our Budget coverage, and make sure you register for our virtual seminar where our panel of experts will dissect the Budget and tax implications for your business.
