Tasmania receives $2.7 billion in financial support from the federal government

According to Treasury data, there has been $1.3 billion provided in JobKeeper payments, $460 million in coronavirus supplement payments, $600 million in cash flow boost payments, and $290 million in economic support payments.

Treasurer Josh Frydenberg said the support was equivalent to around 10 per cent of Tasmania's 2019-20 gross state product.

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At the peak of the pandemic in Tasmania, there were 16,800 state businesses on JobKeeper and 68,867 workers.

The latter figure dropped by 65 per cent over October to December to 24,100 workers.

In the North-West and on the West Coast, there were 12,900 workers on JobKeeper payments between April and September and 4000 workers on the payments between October and December.

In Launceston, around 19,200 individuals received payments over April to September 2020 and 6000 received payments from October to December.

Under the scheme, eligible businesses were provided with $1500 per fortnight per employee until the end of September.

The scheme then changed to a two-tiered system where payments of $1200 and $750 a fortnight per employee between September and January were received depending on a businesses circumstances.

The payment rates dropped in January to $1000 and $650 a fortnight.

Preliminary data from the Australian Tax Office showed 4414 Tasmanian businesses and 12,840 workers received a JobKeeper payment in January.

Mr Frydenberg said this meant 80 per cent of workers had been able to leave JobKeeper in Tasmania.

"Tasmania's economic recovery from this once in a century pandemic is well underway, with more than 12,000 businesses employing around 56,000 Tasmanians graduating off JobKeeper since April 2020," he said.

Of the businesses that received a JobKeeper payment in January, more than 90 per cent had a turnover of less than $2 million and employed about 6600 people.

Mr Frydenberg said the government's economic support for Tasmanians would continue later this year when 230,000 taxpayers are expected to receive a tax cut this year.

About 200,000 Tasmanians are expected to receive up to $1080 after they lodge their 2020-21 tax return.

Mr Frydenberg said 60,000 Tasmanian businesses would be eligible for business tax incentives.

"We know that a number of Tasmanian families and businesses are still doing it tough and my message to all Tasmanians is that the Morrison Government continues to have your back," he said.

"Our economic recovery plan is focused on keeping businesses in business and Australians in jobs through measures such as tax cuts, business incentives, the JobMaker Hiring Credit, new infrastructure spending and a record investment in skills and training."