Liberals’ big new farm tax to hurt jobs and investment

Tasmanian Labor
  • Premier backs farm tax in Parliament
  • Farm tax to hurt jobs and investment
  • Government desperate to find ways to pay for its $1.1B in debt
  • The Premier in Question Time today backed his Treasurer’s big new farm tax that could cost jobs and investment at a time when Tasmania’s unemployment is already the worst in the country.

    The Government announced the farm tax in the 2019-20 Budget in a desperate bid to claw back some of the $1.1 billion in debt it has created.

    Shadow Minister for Primary Industries, Shane Broad, said it was concerning the Government had backed the tax despite concerns being raised by key stakeholders, including the Tasmanian Famers and Graziers Association.

    “Make no mistake – the Premier and the Treasurer’s farm tax will cost jobs and will hurt investment,” Dr Broad said.

    “We know that Treasury has done no modelling on this big new farm tax.

    “While dairy, apple, cherry, beef, cropping and forestry businesses have no detail on how much tax they’ll face, there is the potential for an investment drought until business and investors have some certainty – that could damage jobs.

    “The tax could be applied to businesses with as little as 20 per cent foreign equity, which captures a number of Tasmanian family-owned farms.

    “Peter Gutwein has dreamed up this big new farm tax in a desperate attempt to plug his $1.1 billion budget black hole.

    “As a result, farm jobs are under threat from this chaotic, dysfunctional Government.”

    Shane Broad MP

    Shadow Minister for Primary Industries, Fisheries and Water

    /Public Release. View in full here.