The budget also referred to AUD1.6 billion in tax relief to help digitise businesses and upskill their employees
Since March 2020, the Australian Government has provided more than AUD20 billion to aid the tourism and hospitality sector.
While Australia’s Federal Budget for 2022-2023 offered little targeted support for businesses, it heavily invested in skills boost. The budget included AUD365.3 million as an extension of the Boosting Apprenticeship Commencement wage subsidy, according to Hotel Management.
The budget also referred to AUD1.6 billion in tax relief to help digitise businesses and upskill their employees. This is available to those with an annual turnover of less than AUD50 million.
The budget has also approved an additional 11,000 Working Holiday Maker visas, which is welcome news for the accommodation industry.
Hilton APAC Area Vice President and Head of Australasia, Paul Hutton, said, “The industry as a whole has been impacted by the pandemic and retaining and re-hiring strong talent is absolutely critical to our recovery.”
On 22 March, Prime Minister Scott Morrison released a statement regarding the additional AUD60 million investment to bring back foreign tourists to the heavily impacted by international border closures.
“The return of our international tourism market will support hundreds of thousands of tourism jobs, strengthen our economy, and back our world-class tourism operators and the many regions reliant on international visitors, like tropical North Queensland,” said the Prime Minister.
The funds will be used as follows:
- AUD15 million to get tourists back to North Queensland and to promote the Great Barrier Reef.
- AUD45 million to get international tourists back in to key regional destinations significantly affected by the loss of international tourism, of which:
- AUD15 million for advertising;
- AUD25 million for direct partnership activities; and
- AUD5 million to extend Business Events Australia’s highly successful bid fund.
A member of the Leichhardt Warren Entsch had this to say about the additional investment: “Australia is the best country in the world and Tropical North Queensland is its best part, we’re excited to be sharing it with the rest of the world again.”
The Property Report editors wrote this article. For more information, email: [email protected].
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