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By: Kristina Popova, Nick Mellos
30 May 2025 3 min read
$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 announced 30 per cent minimum tax on discretionary trusts creates significant challenges for private groups.
The Government has announced revisions to several tax measures in the Budget, affecting capital gains tax treatment for small businesses, a special carve-out for start-ups, and a conditional exclusion for discretionary testamentary trusts from the 30 per cent tax on trusts.
Explore how the Federal Budget 2026–27 reshapes M&A in Australia, with CGT changes, trust tax reforms and implications for deal structuring and transaction timing.
