Small Businesses In Tourism Sector A Focus In Federal Budget
Treasurer Jim Chalmers has handed down the Federal Budget for 2024-25 with the rising cost of services and goods being a key consideration.
Small businesses operating in the tourism sector can breathe a sigh of relief, with this year's budget offering a rebate on electricity bills and extending the instant asset write off of $20,000 for small businesses into this financial year.
Other key implications for tourism from this year's budget include continued funding through the Approved Destination Status Scheme, supporting tourism trade from China through through guided tours; an $8.6 million dollar package to support Australian live music venues as part of the Revive Live program, and the Temporary Skill Shortage visa work experience requirement being reduced from two years to one year for all applicants, encourage skilled migrants to come and work in Australia's tourism industry.
Funding for Tourism Australia has been maintained at $170.4 million for the upcoming financial year.
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