TFES Expanded For International Exports Effective 1 January 2016

TFES Expanded For International Exports Effective 1 January 2016

Tasmania Minister for Infrastructure Rene Hidding

Freight Scheme Boost For Tasmanian Exporters

Victor P Taffa

Minister for Infrastructure Rene Hidding said that Tasmanian exporters are urged to take advantage of the expanded Tasmanian Freight Equalisation Scheme (TFES), which comes into effect, 1 January 2016.

The Scheme’s expanded scope should turbo-charge Tasmania’s export sector, expanding the current scheme’s coverage by $50 Million annually, according to the Federal Government.

For the first time, eligible Tasmanian goods exported to an international destination via an Australian port will receive assistance of $700 for each twenty foot-equivalent unit (TEU, or standard size shipping container).

Goods shipped from King Island or the Furneaux Group of islands will be eligible for a further 15 % loading, taking their assistance to $805 per TEU.

Until now, Tasmanian businesses could only receive assistance under the TFES if the goods were for consumption on the mainland or if they underwent some value-adding on the mainland before being exported internationally.

“This is a game-changer for Tasmania’s economy and I encourage all Tasmanian exporters to seek advice on their eligibility to claim assistance under the expanded scheme.” Mr. Hidding said.

The Hodgman Government lobbied hard for this expansion and the Federal Government acknowledged the merit of our argument with this historic extension of the Scheme.

“I expect that Tasmanian businesses will have investigated the benefits of the new Scheme, and our export sector growth will accelerate as new international markets are identified and volumes grow.” Mr. Hidding said.